How to Build an Antifragile Life
How to Avoid the Costly Mistakes
Last Wednesday, I wrote one of the most controversial articles to date. People have an obsession with owning a home and having a place to live. While it’s true that owning a house in Manhattan can be a fantastic asset, let me tell you that in 99.5% of the places on the planet, it’s not such a great investment.
In fact, I’ve always preached that the trick is to buy good assets cheaply, not just to buy good assets.
Regardless of what you may think, I still hold the same view. It’s not just about all the taxes, but also about all the maintenance and depreciation costs of a home.
In fact, Michael Saylor mentioned in his annual Bitcoin presentation that a $10M house in Miami costs $600k per year in insurance, maintenance, etc., and that it takes 17 years to lose value compared to dollar printing.
If you do the math compared to an indexed fund, it’s infinitely better and causes far fewer headaches. From my point of view, long live minimalism — let others deal with the problems.