Often, news articles come across as very dreary and hopeless. Would it be crazy to suggest that buying real estate is still one of the best ways to build personal wealth. To get rich you have to own stuff that goes up in value (aka assets). Assets make you money, which means... houses, apartment buildings, business, stocks, bonds, mutual funds. The ultimate asset is a home in an inflationary market (which means home prices have consistently gone up over time.) For example, if you buy a home for $1Million, if you don't have the million dollars cash, you get a loan, this is called leveraging your debt. Meaning taking on debt in hopes that the asset increases in value. For some buyers, buying a single-family house in certain markets is financially unrealistic, so your options could be a duplex/triplex or fourplex. You live in one, rent out the others, and have tenants that help pay your mortgage. Some people may be totally opposed to being a residential property owner (aka landlord). If that is the case, it seems like it's more important to you to focus on your environment than on wealth building. For those who are willing to make sacrifices, take on some risk, (attend to tenant's requests etc), this sweat equity can build wealth. Wealth building is not easy, otherwise wouldn't everyone do it?
https://www.msn.com/en-us/money/realestate/america-s-homes-are-piggy-banks-that-few-people-can-afford-to-raid/ar-AA1u8yOZ
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