It was purchased for millions AT THE TIME OF PEAK MANIA . big difference
Also it was purchased for millions by the only guy in the world willing to pay millions for it…
Don’t extrapolate or you risk making an hypothesis of liquidity and price permanence which is just not there
A mansion in Naples or San Mateo was worth millions in the 1980s, 90s , 00s , 10s , 20s and there are millions of potential buyers globally who’d happily pay that price. That’s an asset which proved both liquidity and price permanence (matter of fact appreciation) but still it’s not a given that it will prove to be such going forward
<< A mansion in Naples or San Mateo was worth millions in the 1980s, 90s , 00s , 10s , 20s and there are millions of potential buyers globally who’d happily pay that price. That’s an asset which proved both liquidity and price permanence (matter of fact appreciation) but still it’s not a given that it will prove to be such going forward
If there is one thing that 2008 should have taught anyone, it is that nothing is permanent. I am not going to get philosophical here and say that possessions are fleeting, but to pretend that real estate is not propped up hard and effectively is guaranteed to "prove to be such going forward" is about the same faith that keeps ANY asset including bitcoin up.
Why are you so certain that this timeline will never see Naples mansion price go to zero? I can easily see several scenarios where that could happen.
It was purchased for millions AT THE TIME OF PEAK MANIA . big difference
Also it was purchased for millions by the only guy in the world willing to pay millions for it…
Don’t extrapolate or you risk making an hypothesis of liquidity and price permanence which is just not there
A mansion in Naples or San Mateo was worth millions in the 1980s, 90s , 00s , 10s , 20s and there are millions of potential buyers globally who’d happily pay that price. That’s an asset which proved both liquidity and price permanence (matter of fact appreciation) but still it’s not a given that it will prove to be such going forward