[quote=AN]BG, I was referring to a couple of rentals, not your primary resident. Secondly, where did I said this is for your joe6p? Your average Joe6p doesn’t have a couple of rental properties. Your average joe6p are the renters of these rentals, not the landlord. So, the rest of your argument about student loans, expectation, etc wrt your average gen x/y doesn’t apply.[/quote]
The “great-timing” scenario you described (which would have yielded boomers or older $9.9M today) is still a “pie-in-the-sky” conjecture, IMHO.
[quote=AN] . . . If history repeats itself and we’ll see the 70s/80s again, can you imagine back then buying a couple of median priced houses in 1970 and selling in 1980 for over 3.5x more? Then take that $150k gain and buy a 30 years CD in the mid teens? If you put $150k in a 30 years CD making 15%, that $150k will be about $9.9M today.[/quote]
If your parents (or grandparents) presumably had this “wonderful opportunity” (to buy 30 yr bonds at a 15% yield) in 1980 with even half or less of $150K back then, why don’t you ask THEM if any of them took advantage of it?
Obviously, if they did, you would likely be supported by a trust fund today instead of toiling away as a “worker bee,” don’t you think :=]
It doesn’t matter whether or not they were average joe6p’s at the time. Go ahead, ask them if this was “doable” at the time whilst still paying their monthly bills to live and even raise a family.
