Only if they put money in your pocket. A personal residence only does that if you sell it for more than you put into it. It’s a liability until that point.
Rental properties (you own it and let others pay you for the privilege of living there) are an asset as long as the rent covers (and hopefully exceeds) any mortgage payments you have on it.
Actually, it depends.
How much is your rent compared to owning a property +the costs?
Even if the price does not go up, you are paying the mortgage. And when you sell, you get to keep the difference.
Now, it obviously depends on interest rates etc. but here in Finland you could be paying maybe 200€/ month more compared to just the rent. Lets say 800€ (just rent) vs 1k € (mortgage for example 700€ + other costs 300€).
Even if the price of the flat/house/whatever stays the same, you win by buying the property.
Is this title going to be priced, free or an upgrade?
imagine if a sub this big is free, that will be nuts
A sub if this caliber should be closer to $99 since it sounds like it’ll be inclusive and comprehensive.
It’s a new priced title, I gather.
presults already changing how you Value things
More like life experience making and selling binaural audios. Years ago.
I totally agree - when I wrote to saint I said one thing we can all agree on is trust fund babies are abhorrent. No one wants to be Draco Malfoy, or Captain Morgan’s son from One Piece.
One of the worst things about Old Money culture is probably that for every one patriarch or provider, there’s 20+ “recipients” of the wealth who did nothing to deserve it - that’s true… nepotism to the point of a nepotistocracy is the norm for “Old Money”
But it wouldn’t have been too bad to be Rockefeller lol
This is only true shortterm. Because over time the house will be more cost intensive, which you as an owner have to pay, whereas if you rent it out, you don’t.
Of course, the landlord could just put the extra cost onto you, but you can always just move.
The biggest issue with buying a house with a mortgage is that you will always be tied to that place. Getting out of those contracts is always a negative.
See, I am talking about general consumer mortgage and debt for the regular person.
Of course, if you already have a lot of money and you buy houses, even if you just live in them, that’s a different outlook. But this doesn’t apply to the majority of people.
I bought a house with the regular consumer mortgage for the middle class, and it has been nothing but a liability.
Renting one would’ve been MUCH better, but here we are.
I think the biggest payment most oversee is time and restriction.
Time you have invest in the house, fixing stuff, etc you wouldn’t otherwise have, plus being completely tied down.
To me, thats a much higher cost than the actual money.
There are kind people and snobs at every level of financial status. Ditto for their social power wielding skills.
If a Jacob Lockwood sterotype is the one in control, I’d expect the family to lose their wealth within a generation.
The people I’ve personally met from old money families… if they’re over 3 generations into wealth, the power/responsibility of business decisions is almost always with the financially & socially savvy type that you’d expect from a HOM user, for example.
We hear the same from billionaires today. Most of their kids do not inherit control of their empires, only decent amount of lifestyle money fund, if that. They can’t afford to buy $300M AI startups.
It is always situational. Depends on your location, the economic cycle and whatever.
What worked for me here in Finland with my earlier story, would not work now.
But I can guarantee you that when there is some “absolute truth” like You should not buy a property, someone is making good money with doing exactly that.
My point is this: There are opportunities everywhere. Keep your eyes open. And if you happen to spot one, you have to analyse the situation. Then it’s about taking a calculated risk.
When I heard old money, I thought of money that was gathered generations ago, accumulated over the centuries and changed the mode of existence for those people.
Families that are wealthy as an expression of their inner nature. Even if stripped of all they own, they emanate wealth and its just a matter of time until they’re wealthy again because they understand the Inner mechanics of the world an money.
A paragraph from Hugh Laurie’s “The gun seller” came to my mind.
This is what I imagine of Lockwood and alikes.
Because over Generations money transforms into power. Your money grows into every structure possible. And thereby you gain influence.
Best example is this photo of Ev. de R.
I don’t want to go into the conspiracy corner, but the way he pressed his finger into the chest of the crown prince of the UK shows his position pretty well.
On the other hand I see the nouveau rich. Persons or families who gained some or even immense wealth but what is missing are the deep connections to permeat societies and governments (like Lockwood when he threatens to have vespers business shut down)
They have the money to buy fancy stuff, to live a life of luxury. Even create change in society. But they will never gain access to this elite rank of old money for at least one or two more generations. Only then, they will have proven that they’re more than just a snowflake that melts in the sun of inheritance.
Everybody is talking about either old money or new money.
What if I want middle age money?
That’s probably the money earned by the father and squandered by the next generation, unable to understand money as their fathers and being just trustfund kids.
whens this dropping today?!
10pm EDT if it doesn’t get delayed to tomorrow.
9 hours and 37 minutes left 
Please note:
Yeah MAY be delayed to tomorrow not official yet. That’s what I mentioned before.