Yes housing = all of those things … true. Except when it was bought just to flip, no one lives in it, its bleeding money each month and its costing MR, taxes, Interest, utilities, insurance and upkeep/fines for failing to upkeep.
It wasn’t an investment, till people started dat trading it. Now Casey Serin (imfacingforeclosure.com) owns 4 houses and is paying 550 a month rent for sharing a house with his sister in law, a house he doesn’t even own. You’d think he’d be the last person to need to rent wouldn’t you.
So I have presented a concept called “fake” estate.
Real estate is where hubby and wife (and no offence to roommates, or brothers and sisters or friends buying a house and living in it) put up some of their money, buy a house with a loan, and work hard making payments on it, and making the house a home and generally adding to the factor called “neighborhood”. These are Real people’s houses. Hence “Real” estate.
Fake Estate is where a flipper buys it, never intends to occupy it, never expects to pay for it, never thinks of maintaining it, never does anything … and hopes to cash out with some real people to buy it. AKA … “Investment” house. Or “Fake” Estate.
Here is the catch, “Fake” estate is indistinguishable in most cases from “Real” estate. So when the Fake estate dies (its all based on fluffed up demand anyway) it will take the Real estate with it.
Cool.
Cow_tipping.
