Hacker News new | ask | show | jobs
by syllogism 5676 days ago
People also like houses because they've seen them go up all their life. In their anecdotal experience, it was the best investment. But the fact that house prices rocketed up in their lifetime is exactly the problem! People think it's a good investment for precisely the reason it's a terrible investment!

The property bubble in Australia hasn't burst yet, so I'm still listening to this. It's painful. Sometimes I find it hard not to advise people to sell their houses now...