[owenversteeg]

“Remember, bubbles happen around things that fundamentally change the way we live,” he said.

Ah yes, I remember how beanie babies changed the way we all lived. And tulips, of course. And rhodium?

Hmm.

[blake8086]

And dot-coms! And real estate! Hmm.

[bduerst]

Ships can't ever sink when all you look at are the ones that are still floating.

[carbocation]

This is a beautiful description of immortal time bias.

[kolbe]

I don't remember any innovation around real estate that changed our lives within the past few decades (or millennia even).

[iaw]

I think ~100 years ago they really got into vertical construction but other than that (and possibly central plumbing) your point stands..

[pessimizer]

CDOs

they literally turn bad debt good

[ivalm]

Those aren't commodities (unlike tulips, beanie-babies, and crypto).

[quickthrower2]

Real estate is as old as humanity

[dragontamer]

No. Its only as old as modern society.

The idea of a private citizen owning land was not generally accepted in the medieval age of kings. Only lords and other nobility could own land back then. Technically, the king owned the land, and the Lords were simply stewards of the King... probably indirectly (King -> Count -> Lords)

Eventually, real estate could be owned by the common peasants and merchants, but that starts to get into modern capitalist style society.

For some details, see this article: https://en.wikipedia.org/wiki/Quia_Emptores

[JumpCrisscross]

> Technically, the king owned the land, and the Lords were simply stewards of the King

This varies from culture to culture. Romans owned their land. Egyptians did not.

[tim333]

Tulips changed they way some of the Dutch live. They still have 11,000 hectares planted and grow 4.3 billion bulbs per year, 381 years after the so called bubble. I wonder if ETH and TRON will be about in 381 years.