Is it true that you are not truly rich if you don't have real estate property?!

[Kross]

So many people are of the opinion that no matter other investments a person has, that if they don't have real estate properties, they can't be said to be truly rich.

My question is, why do people equate a person's wealth with the level of real estate properties the person has. Can I just focus on other investments and leave real estate and still be considered wealthy?

 

[codescript94]

In fact, wealth is not in material wealth, but in the ability that this person can create and multiply any business from scratch. Between material and intellectual wealth, I preferred the second option, which would mean that I would always have money whenever I wanted.

 

[Stardom22]

I really disagree on that. There is no connection on being successful when you own the real estate property. This is because l have seen so many people draining down in the ditch with real estate property.

 

[neku]

In some countries older single investors are subjected to identity theft/resume robbery by government agencies, real estate and other physical assets are more difficult to grab. So real estate is considered the most reliable investment.

 

[eLdavis]

It depends on what you see wealth as. Though wealth could mean only material things for some persons, and the next person it might be on something else.

 

[Augusta]

Well, to a large extent it is because real estate is sustainable and long lasting. it does appreciate as well and can also bring one untold wealth

 

[freelancermaria]

I do not believe that owning real estate implies that you are wealthy. There are alternative ways to build wealth. It could be by starting a business, investing, and so on. It is not limited to real estate properties.

 

[King Belieal]

Which other asset class can you quickly wager in difficult times to save yourself financially? It is real estate. If a big emergency hits you and you need big money to take yourself out of it. Only real estate can you easily sell and use the money to save yourself. I know of many people that had good business ideas but didn't have funds. They easily sold their lands to raise capital and they are mega rich now. Real estate can easily save you financial disgrace.

 

[Fidelia]

Land is very vital to any person. With the possession of a landed property, there are so many possibilities open to you. I won't feel okay if I go the next two years without a land.

 

[Stardom22]

Most people in my African continent think so. However l don't agree with that. lts very possible for one to be very rich without the need for owning real estates and properties.

 

[Fidelia]

Most people in my African continent think so. However l don't agree with that. lts very possible for one to be very rich without the need for owning real estates and properties.

Even in the US and other parts of the world, mention one rich person you know let me showcase to you their real estate holdings. Even if you don't have liquid cash and you have landed properties, you are rich.

 

[Xtynehappy]

This is actually the way that people say nowadays. Probably it's because the real estate venture is deemed so profitable indeed.

 

[Kross]

If you don't own a land, you are not wealthy. How does your net worth appreciate without a landed property? People that have lands have collateral to obtain financing for their businesses.

 

[deucher]

I think that no one can say that about you because among the rich you just need to have wealth and it doesn't matter where you earned it. However, it is true that all rich people own luxurious estates to support the stereotype

 

[Kirubel]

Yes, you can be rich even without having real estate. In my country, even if you have real estate, that doesn't mean you are wealthy. Many people prefer investing in active investment plans than real estate.

 

[Augusta]

Even in the US and other parts of the world, mention one rich person you know let me showcase to you their real estate holdings. Even if you don't have liquid cash and you have landed properties, you are rich.

That's right they are not rich people without holding landed assets. They would always want to explore that option

 

[neku]

In some countries, citizens with bank deposits and similar assets are targeted for identity theft . While registering property, photos and biometrics of the person are recorded, making impersonation more difficult.

 

[Springtime]

Generally speaking, very rich people usually have many real estate properties. They may own residential or commercial properties. Of course, they have other businesses and investment. For an ordinary person with only one residential property, in particular if they have taken out mortgage loan, I won't consider him/her as rich.

 

[King Belieal]

Just a sale of a real estate property can transform the financial life and situation of a person. I have seen people that built wealth with just a sale of a land.

 

[Stardom22]

For me it's big NO to that concept. The mode of investments depends on the personal choice on where, how and when to invest. I have seen so many rich people that had been established.