Meanwhile, some of us are buying real property in the real world.
Or is owning real property in meatspace so 2018 now? So passé?
sure, people are interested, but increasingly not being able to afford RE.
As i was posting before: house was 3x yearly salary in the 70ies, but 10-30X yearly salary in 2022, with 30x on the coasts.
When mortgage goes to 8% (and it probably will), we might have another crisis. Either prices would have to go down or demand would plunge and people would have difficulty to move.
In some ways it is already starting as everyone has 3% or below mortgages, but when they buy a new house, it is more like 5%.
So if people can't afford to buy something real without taking the time to save up to pay cash for it, they should spend their real money on buying imaginary bullshit?
It seems to me that some people spend too much time in an imaginary world, playing online games, buying NFTs, watching movies and TV, etc.
Wake up people. There's a real world out there.
I don't think i was ADVOCATING buying virtual real estate, far from it.
My post was about affordability (or the lack of it) of the "real" real estate.
Overpriced flats or house are NOT a 'real' world, it is a product of financial manipulation.
Once RE crashes to it's proper value, maybe there would be some bargains.
Additionally, the 'real" world assumes that you know what is 'real'.
As Descartes noted few centuries ago, you wouldn't know it it is 'real' or you are a brain floating in the nutritious sou or a person walking around.
Plus, it is entirely possible that human existence could become quite miserable in the "real" at some point.
As a creature with quite a few decades behind me, I too prefer "real', but this in not the way things are moving to.
I find it basically inevitable that, eventually, we would digitize one way or another.
Could be 1000 years or 10000 or 100000, but at some point "virtualization" of a large % is incoming, unless we destroy ourselves beforehand.
Why virtualization:
Consider this: with just 1% annual population growth, we would have 21000X more people in 1000 years.
That's 155 quadrillion (1.55X10^14) people.
These numbers speak for themselves.