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 moving.
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?
I will not spend 1% of my portfolio on those untouchable imaginary things. I am not sure how people are taking it. You will be disappointed to know (maybe you know already) that some bullshit influencers are motivating their followers to invest in that bullshit. Youtubers are telling them that this is the future. You will have to meet your friends on the metaverse. So, Buy your land as soon as possible.
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 won't blame them directly. But, I would say we should be aware. We have to be careful about whom to follow. I usually love to watch Nas Daily's informative videos. But, A year ago, This guy published a video about an Indian Bitcoin Billionaire. That sounds great. Right? But, later on, I felt like that was a promotion of NFT.
That Bitcoin Billionaire guy Purchased a $70M Worth of NFT Image, Which is bullshit.You shouldn't spend a lot of money on that bullshit that is just imagination.
Sometimes those influencers play a significant role in people's life. Choose your idol wisely.