Real estate has held and appreciated in value for 2,000 years. I'll stick with that until 100 years of data tells me otherwise. Connecting climate change to home ownership is nothing short of irresponsible.
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if you have a portfolio with distributed risk, that's fine. But if you've literally put a significant portion of your savings in a single thing... that can be jeopardized by hurricanes, floods, fires, sea level rise... that's more problematic.
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It’s probably a full 10-20 percentage points above where it would otherwise be without federal programs, GSEs, etc. to support homeownership.
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Have you come across any good reads on alternative ways of thinking about storing wealth in America besides investing in stocks for an average household?
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@Noahpinion might have some good answers here. But it’s not really a stocks question for me, it’s mostly not having people be so highly concentrated/leveraged in a single house, which has all kinds of weird downstream effects wrt NIMBYism, schools, climate change. - 1 more reply
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My house isn’t even on a flood plain, but due to bad neighborhood planning back in the 80s + the higher rate of heavy storms today, I’m in a constant battle against flooding. Genuinely worried about ever being able to sell it.
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I’d add it’s even crazier in that Americans are encouraged to do highly leveraged buyouts to on-ramp into wealth concentration.
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