Life is all about choices brother. Every choice from having a latte everyday, how hard you work, and the risk/reward profile of investing is a choice. Some people just naturally make smart choices, some get lucky, and others just can’t keep themselves from making poor choices. It’s very easy for the poor choice people to be jealous of the smart choice people and for them to think that life is unfair. The truth is that making smart choices can be extremely hard to do and everyone should be happy for those who are successful. In your case it sounds like you took a huge risk buying that lot and building the apartment building. That was a big and risky undertaking and, as such, should be rewarded. I’ll bet that guy has several lattes a day and is so busy being jealous that he can’t figure out why his money isn’t working for him. It must be someone else’s fault. For a minute there I thought maybe you didn’t get it but when you mentioned building the apartment I knew that you did. Good for you. 👍🏼🇺🇸
Thank you for the comment. I hope I gave him a better perspective on this. I know that housing costs for young people are oppressive but I tried to stress that we are in a bubble right now and prices both rent and homes are coming down. You need to be patient, the market Will correct. When I was young I lived through a housing bubble in 1989 where real estate affordability was only 9%. But during the next decade prices did come down by about 30%. Here in LA rents are about half the cost of ownership when you include mortgage, property taxes, insurance, and repair costs.
Life is all about choices brother.
Every choice from having a latte everyday, how hard you work, and the risk/reward profile of investing is a choice. Some people just naturally make smart choices, some get lucky, and others just can’t keep themselves from making poor choices.
It’s very easy for the poor choice people to be jealous of the smart choice people and for them to think that life is unfair. The truth is that making smart choices can be extremely hard to do and everyone should be happy for those who are successful.
In your case it sounds like you took a huge risk buying that lot and building the apartment building. That was a big and risky undertaking and, as such, should be rewarded. I’ll bet that guy has several lattes a day and is so busy being jealous that he can’t figure out why his money isn’t working for him. It must be someone else’s fault.
For a minute there I thought maybe you didn’t get it but when you mentioned building the apartment I knew that you did.
Good for you. 👍🏼🇺🇸
Thank you for the comment. I hope I gave him a better perspective on this. I know that housing costs for young people are oppressive but I tried to stress that we are in a bubble right now and prices both rent and homes are coming down. You need to be patient, the market Will correct. When I was young I lived through a housing bubble in 1989 where real estate affordability was only 9%. But during the next decade prices did come down by about 30%. Here in LA rents are about half the cost of ownership when you include mortgage, property taxes, insurance, and repair costs.
@@williamread8186 they just don’t understand the math. That’s the main reason that they’re renters and not owners.
Thank you for sharing! Really refreshing discussion. I am sorry to hear about your wife, I hope you and your family are doing well!🤍
Happy you enjoyed it. I like your discussions too.
Housing isn't a human right. It is a necessity. Your friend is confused.
Yes I agree. I think when I explained to him how execute that “right” I think he kind of saw the problem too.