I have been doing a preliminary search into investing in direct real estate. I have to say I find this asset class baffling. The real estate market is so inefficient because the lack of reliable sources of data regarding engineering, law and construction quality. In addition the byzantine laws and local regulations is insane. The costs are just to high to make a confident investment.
However during my research I stumbled upon other articles regarding debt. Millennials going into debt to pay for a wedding which is debt on top college loans. How can they even buy a small home? People surviving pay check to pay check while the credit card companies and banks are eating away at their future wealth. Senior citizens or soon to be retirees with small retirement savings going into debt just to survive day to day.
Questions to myself and to anyone who can answer is as follows. How did we get here? When did we as a nation decide going into debt was a great way to live? Why so few understand the power of compounding? Is debt responsible for the ever increasing wealth gap? Feel free to offer your opinion. Just questions that I wanted to get off my chest.
Source: howmuch.net The Great American Debt Bubble
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