Monday, November 13, 2006

A thought just struck me today. Everyone talks about the rich getting richer and the poor getting poorer and when we compare the two groups perhaps this is right. But then I thought hang on my parents became richer over a period of 20 years and so did a lot of my friends and relations, as well as the rich.
So why is it that only the rich are thought to get richer when others who aren't quite so well off also get richer. I think its simply because the very rich own more assets which go up in value.
My friends and family have increased their wealth because they own a house which has increased in value and the mortgage has gone down. The rich have also increased their wealth because their house has gone up in value, but the difference is that they own a hundred houses, not just one, and their mortgages have gone down in relation to the debt.
To me if you wanna get richer increase your assets which appreciate over time and you too will move up the wealthy ladder.
What do you think? Is it possible for others to get rich using real estate? Blog in with your comments, thoughts or railings against the unfairness of it all.


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