• Syntha@sh.itjust.works
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    4 months ago

    You wouldn’t like it if you owned three houses and have all your savings invested in them

    • Azzu@lemm.ee
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      4 months ago

      Diversify your investments is literally the first thing anybody learns about investment.

      Also, let me cry for those poor rich people with still 3 houses left, they’re going to end in poverty if it’s worth less!

      • jacksilver@lemmy.world
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        4 months ago

        I could be wrong, but I think they’re referring to all the middle class Chinese who were using housing as an investment vehicle (cause that was a common thing in China to my understanding).

        • C126@sh.itjust.works
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          4 months ago

          People in China don’t have a good stock market to invest in to “diversify”. They also don’t have good government programs like social security. The only investments are houses, shops, or your kids. If you chose houses and the market crashes and your kid can’t help, you’re screwed and will likely end up on the street.

          • jacksilver@lemmy.world
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            4 months ago

            Yeah that’s what I was trying to call out. Also seems some people aren’t aware that many of these investment properties were never built, so the people lost their money and the asset behind it.

        • Azzu@lemm.ee
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          4 months ago

          I did not know that, but I don’t think it matters. If you have 3 houses, even if they’re worth less, you have a place to live and the possibility to house 2 other families/even more. That is wealthy in my opinion, and it doesn’t really matter how much it “values” at.

          • AwesomeLowlander@lemmy.dbzer0.com
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            4 months ago

            It matters when all 3 of them are mortgaged and the mortgages are now more than their actual value.

            (Before you blame the buyers for being dumb, realise that due to cultural context and other factors, pretty much the entire middle class is in this sort of situation).

    • NOT_RICK@lemmy.world
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      4 months ago

      You wouldn’t like it if you owned three houses

      Hold on, let me get out my XXS violin

    • Passerby6497@lemmy.world
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      4 months ago

      Boo hoo, I own one house and have all my savings in it. Go sell 2 of them and live in the 3rd, let someone else use them without needing a parasite middleman between them and housing.