Author bought high in one of the absolute worst markets - communist NYC. My (real estate) family ran out of New York for that very reason. Punishing landlords is great for creating slums.
Like many, the author also doesn’t understand that real estate is, almost always, a long, slow game.
The Florida rentals I bought in 2010 after the crash are now yeilding around 75% ROI anually. IOW, in a single year, I’m getting 75% of the full price I paid for the units 15 years ago.
The best part is they’ve increased in value by 700%. Yes, they are worth SEVEN times what I paid during the fire sale.
You don’t get that via Wall St. paper unless your palm-reader gets you into Gamespot at just the right time.
Correction: New York State, not NYC.
“You don’t get that via Wall St. paper unless your palm-reader gets you into Gamespot at just the right time.”
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You could have simply invested in Microsoft. Its total return since 2010 is over 1,200%. Or you could have simply bought the ETF XLK and done nearly as well.