an asset is something that puts money in your pocket .. your home does not do that .. does it ? you have utility bills , property taxes , maintenance charges ( if you live in a gated community )
the combination of banks , the land owners and the builders are all wrong when they say that homes appreciate forever ..
look at the last 6 months … millions of people all over the world have lost their jobs
don’t have money to pay for mortgages , rent , car payments … etc
how will they buy homes ? if there is no demand , how will homes appreciate ?
the people are dependent on stimulus packages from the government …this is probably one of those bad things that happens once in a century …
the last time it happened was in 1929 .. when the stock market crashed 90 % .. the great depression
this time around , in the usa at least ,the stock market is being supported by the us federal reserve … but the reality in the stock market ( touching all time highs ) is far away from the reality on the main street ( almost 1 million unemployment claims per week )…
as of aug 25 2020 , germany reported a record contraction of 9.7 % in the previous quarter …
as of aug 27 2020 , usa contracted more than 31 % in the previous quarter …Add to favorites