[ResisTyr]

My dad was the same way: "depression mentality" Dad's father was a German immigrant who came to America in late 1800's as a boy with 10 bucks in his pocket. He eventually became a successful accountant & real estate investor in NY, owning several homes, a couple in Manhattan 😱 The depression pretty much wiped him out, though he kept the family home & a couple others in Queens. My dentist dad never wanted to own a home, only rented until he was forced to buy the home, that was attached to his dental office, that was for sale after the owners died. He bought the house (with attached dental office) for $58K in 1973. It sold north of $700K in 2012. 😱 Dad passed in 1986. I'm sure he would have been shocked had he know just how much his home investment appreciated!

[Attention Surplus Disorder]

No doubt there are a zillion such stories. One must remember, real estate was not the crazy long term appreciation story we may think of it as until, perhaps, the great inflation of the 70’s. Judiciously bought and properly tenanted, of course, it created great cashflow. Massive cashflow will make you feel rich as much or more than having a static pile of money, this I can tell you.

I had a cousin, a doctor, in Cincinnati who bought a house for his family in the ‘burbs, very nice area, 3500 sq ft home. I think he owned it for about a dozen years and had to put $20K when he sold it. Location, location, etc;