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Old 07-30-2014, 11:30 AM
 
Location: Seattle, WA
2,975 posts, read 4,940,440 times
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Quote:
Originally Posted by Roscoe Conkling View Post
I made most of my wealth from property speculation and see nothing wrong with it morally or indeed any other way.
It's just like speculating in fine wine,sports cars or art - you investment can go down as well as up.
... Except that families actually have to live in those properties--they don't get to just move on to the next opportunity. Nobody *has* to indulge in fine wind, sports cars, or art...people do have to live somewhere.
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Old 07-30-2014, 06:19 PM
 
5,606 posts, read 3,511,211 times
Reputation: 7414
Quote:
Originally Posted by hurricaneMan1992 View Post
... Except that families actually have to live in those properties--they don't get to just move on to the next opportunity. Nobody *has* to indulge in fine wind, sports cars, or art...people do have to live somewhere.

Way back when,I started with nothing.
I mean absolutely nothing.
My very first payday every guy I worked with went to a bar and stayed the night partying hard.I stayed for a couple of drinks and went home.
A couple of years later I saved up enough for a deposit on a dump and spent most of my non-working hours working on fixing it up.
I probably don't need to spell out what happened over the next couple of decades except I made different choices from the dumb and lazy.
So if one area becomes gentrified and you can't afford it you move to the next one to it that isn't and start from there.
Property speculation improves housing and neighbourhoods not diminish them Without property speculation most would still be full of those same idiots living in dumps pissing away their paychecks.
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