This is a US context story. But if you read it, you might find that it applies to the Singapore context as well:
“A new generation is skipping the ‘starter home’ and betting heavily on high-end real estate.”
“ ‘I have always felt that having your money in property is the safest and best thing to do if you want to grow your personal wealth,’ says Mr. Winter, who founded his design company at 23. None of Mr. Winter’s assets are in the stock market — he says the market ‘spooks him’ and that he prefers to invest in real estate,” the Journal article reads.
Stop and think about this for a minute. Mr. Winter is now all of 28, and the story he is telling is that property is the safest place to increase your wealth. But I suspect that if you ask anyone dealing with real estate in the last 10 years (or who is over 40), they would disagree with the idea of it being safe. So why is our attention caught even though our experience tells us something different?
I know Singapore markets may not seem so super appealing. But the US just happen to went on a 4 year bull run and the mindshare is still that stocks are real bad. Property is a great store of value.
From New York Times
- Why we may not have all the conditions that create the 1970s Great Inflation today - December 7, 2021
- How Conservative and Lower Income Investors can Make up Their Retirement Shortfall - December 5, 2021
- Having $6 million dollars and STILL don’t feel safe – Tackling Real Money Stories - December 4, 2021