Owning realestate […] creating generational wealth.

There is this popular misconception that real estate “is forever, like diamonds”, that its value can only go up… even when it lies in ruins after years of neglect, or gets eaten by termites, burnt in a fire, bombed away… no matter! “The value can only go up!” 🙄

Well, no. Real estate is a perishable product, it takes decades to perish, yet ultimately it does. It requires constant maintenance, aka constantly spending money on it in order to keep its value. It’s a shitty generational investment… unless you’re into predatory practices that will make your tenants pay for the deprecation, or even better, pay the mortgage for you.

You want a place to live in, it makes sense to buy it. If you buy a place to live off, then you’re either scum or a fool.