Bugger Social Media: Houses Are Better
AI is coming for everyone’s social media, whether directly or through changes that the platforms make to deal with it
If you want to understand the value of things, you’re probably better off buying a house than doing something silly, like studying economics. The price of both educational journeys is about the same — assuming four years of university fees, living expenses and lost income — and you’ll have a house at the end, which is worth something.
But it won’t be worth the price you paid for it. Look through the insurance documents, and you’ll see a little estimate called the rebuild cost — it’s what your insurer will pay out if your house burns down. It’ll be about 50–70% of the purchase price in the reasonable parts of northern Europe, much less in the popular parts where the main thing you’re buying is the location, not the house!
So important is location that similar houses can vary enormously in price, even if they’re not very far apart. Most readers will have noticed, for instance, that property in a swanky part of a city is worth more than a virtually identical property in a crappier part. But what people seem to forget is that swanky and crappy are subjective and transient.
