Quote:
Originally Posted by Hondaracer
I don’t think financial literacy would convince these people who think the stock market is gambling/a fools game any otherwise. It’s more of a cultural thing than education imo
I know plenty of people who had the same mentality and actually took huge hits buying property in Alberta as a “safe” investment VS investing in the market. I don’t feel too badly for them.
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My aunt been timing the market for the last 14 years, literally fucked their adults kids over now, as she could have owned multiple houses if she bought in back that time. That stupid mentality of market crashing, will be cheaper next year. Now she could only afford one-town house locally LOL. It's simple demand > supply. There's only so much land in the city. Even if the market crashes, are people expecting homes to be 50% off? I kept telling my aunt, you save $100K today but homes go up $250K, your always trying to playing catch-up. The increase is far greater and faster than you could ever save.