In a recent post on Official Topics of Adult Conversation, I got this comment:
No. 1 on your list really should be real estate! I can't go anywhere without hearing about real estate anxiety, real estate envy, real estate boasting, etc., etc., ad nauseum.
M friend JJ and I have several games we like to play. One of them is "How much is that house worth," which I turn into a truly horrible game by looking up people's property assessments online. What did they pay for it? How long ago? What's it worth now? Does Zillow overstate the value? By how much?
It's so bad now that I find myself driving home from errands on some days trying to remember 3 or 4 house numbers I want to be sure I look up.
New York Times real estate section? Love it. Got jealous at the NY couples who flipped home like 5, 6 times in the 90s and early this decade and got over before the bubble burst? Maybe a little.
When I asked my CPA how I should be investing my money, he told me I should consider investing in a second property. The thought made me orgasmic. Hmm, I thought, I could be a rental slum lord. Yes! Passive income? YES! Yes, yes, yes! (Did I take his advice? No... I mean, I have wood rot issues to deal with in my OWN house before I start buying up Park Place and Marvin Gardens.)
Why do we all love the real estate topic so much? Is it because it's really the only way most people are going to make real money in their lifetimes? Is it the status anxiety issue? Once we realize we have average jobs and average lives and average happiness, are we turning to our homes and children to play out our competitive nature and find some kind of success? Or, is it really just adult Monopoly? Watching your own stock rise, so to speak?
Are you or any of your friends obsessed with real estate?
Do you know people with second homes who jaw on about it?
Do you know people who had a questionable loan and lost it during this housing recession?
Do you size yourself up to your friends and their places?
Would you say that most of your friends and family have a better/worse house than you?
Wednesday, April 16, 2008
Labels: status anxiety