In 1997, in Rich Dad, Poor Dad, I stated, 'Your home is not an asset.' Real estate agents sent me hate mail.
Sentiment: NEGATIVE
My father's not the type of person that teaches you by saying, 'Come here, son. I'm going to tell you about real estate.' You learn by watching it. If you don't pick it up, it's your problem.
These days the American dream of home ownership has turned into a nightmare for millions of families. They wake every day to the reality of a horrible decline in the value of the home that has meant so much to them.
You work with people who are obsessive about shopping, obsessive about owning things and buying things, like this purchase is going to make them happy. And you want to say to them, 'You know, no amount of real estate is gonna fill that void.'
I have been mislabeled as a big advocate of low-income home ownership over rental.
I always say, 'What if you had to sell the house tomorrow?' And if it's too idiosyncratic, someone won't buy it and then it's a bad house.
I'm a product of public housing. My parents grew up poor, but their dream was to own a home.
My dad was rubbish at all other aspects of his financial life, but he's pretty good at paying the rent.
I get asked to give stuff to my dad. I'm, like, 'I'm not gonna pass your script to him!' You know? My dad's my dad. I'm not his agent.
The real estate business was something Dad and I could do together.
Owning a home is a keystone of wealth - both financial affluence and emotional security.