Quote:
Originally Posted by ramonesfreak
never once in my life have i ever bought anything with the idea that it would go up in value someday, except for my house
I buy the things I want for whatever reason (i like it, i want it, i need it) and always buy the best quality example of whatever it is
But then again, I have never had the luxury of having so much money that I dont know what to do with it causing me to invest in items of personal property for the purpose of diversification
Have many of the things I bought increased in value? Yes definitely. But since I dont consider it an investment, what difference does it make?
For example, I collect vinyl records. Many of the records I have were bought for $1 (dollar bin) 25 years ago and they are now worth $20 to $30 each. I didnt buy them to invest and I have no intention of not listening to vinyl ever in my lifetime so they are not going to be for sale. When Im dead, my wife will either toss my 40 years worth of collecting to the curb or have another collector purchase the entire collection for pennies on the dollar and that guy will be the one who makes the money
I have always thought people who bought beenie babies, or other such trash that had no real interest to them, as an investment to be, well......very strange with no real interests in life
My opinion is different if you are in fact in the business of collecting stuff you are not interested in because you know it to be appreciating in value.....like the American Pickers guys and other antique dealer types i know. Thats totally different and I understand that
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Houses were not considered to be piggy banks until the mid 70's when houses started to go up exponentially in value. They were considered to be an overhead expense. That was when the USD was still considered to be stable. The housing inflation belies an underlying economic instability...Since the 70's RE has been boom and bust..