Think Real Estate

Your government wants you to Think Real Estate. Actually, the government not only wants you to think real estate, it wants you to own it. In fact, it needs you to do that. This point was driven home for me during a taxicab ride in Florida. The driver was from Chile, and when he heard I was in real estate, he told me a remarkable story of how the

Chilean government had launched a housing program in the 1970s to revitalize the economy. The idea was to make housing affordable to more middle-income and low-income buyers, which would allow them over time to build equity. The program was based on the well-documented effects of housing affordability and ownership on the American economy. Home ownership and the resulting expenses of maintaining a home (fixing it up and furnishing it) are widely considered the largest and most important category of spending in the United States. That's not all: Home ownership also helps launch small businesses by allowing would-be entrepreneurs to borrow against the equity in their homes. My cabbie was articulating the economics of property ownership in a way that very few people do. I enjoyed the conversation and hated to see it end.

that Ecuador implemented a similar program in the 1990s. In a white paper on the subject the economist Hernando de Soto observed: "The critical difference between successful capitalist societies and those that are not is their ability to create wealth with private property, especially land and housing." It's a fact. Historically and globally, free-market societies foster and protect real estate ownership because it can underpin a society's ability to build financial wealth and prosperity. That is why Millionaire Real Estate Investors Think Real Estate for building their personal financial wealth and prosperity.

Our research and experience show that no other investment has had as consistent and powerful an effect on the average person's net worth as real estate ownership. In fact, as real estate historian Dana Lee Thomas



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