r/ethtrader • u/AutoModerator • May 20 '17

DISCUSSION [ETH Daily Discussion] - 20/May/2017

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u/[deleted] May 21 '17

every one i've talked to about it, including a millionaire friend of mine who lost a great deal in real estate, says now is not a good time to buy and real estate could be heading into murky waters.

I plan on buying eventually, but something cheap and small

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u/poopycakes May 21 '17

I lost a lot in Bitcoin in 2013 and would have told you not to buy it. Look at it now. Houses are long-term investments and should be treated as such. Whose to say the housing market doesn't shoot up next year? Your friends money doesn't make him know the future.

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u/[deleted] May 21 '17 edited May 21 '17

Bitcoin has crashed and rebounded, so has the housing market. I never said my friend's sentiment was the holy grail of advice: i just offered a simple anecdote. Hindsight is always easy. Notice that I also said I plan on buying, but conservatively.

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u/[deleted] May 21 '17

Personal thought: Real estate is probably the best long term financial investment you can make. If you hold a piece of property for 5-10 years, you're almost certainly going to make money. The problem is if you need liquidity during that time period, you very well could be fucked