Comment by WalterBright
3 days ago
> Those who can afford to sit on the property trying to obtain a higher price will do it
I could afford to sit on it, but I try not to be stupid with investments.
3 days ago
> Those who can afford to sit on the property trying to obtain a higher price will do it
I could afford to sit on it, but I try not to be stupid with investments.
You're either generalizing or just making a mistake stating so definitively that sitting on an asset means being stupid with investments. You know your house and situation but that's far from representative. Sitting on it might turn out to be the stupidest or the smartest decision you can make. If you take the hard stance that it can only mean one thing, you're just being stupid with investments in all the "other" cases.
I am surrounded by people who sat on houses for a decade only to triple their money after inflation adjustment when they sold. We're talking 7 figure profits. Trying to sound smarter than everyone else sometimes backfires.