“But we also think that the responsibility for the safety of [low-income people] — and let’s face it, it’s low-income people who have this problem — that’s a responsibility for society at large, for everyone, not just for the people who happen to own the buildings where these people make their homes.”
who said a thing abt investment. this is housing
Well, no matter whether you intend it to be or not, every purchase of real estate is an investment.
how so?
Anything you put thousands of dollars of your own money into is an investment - collector cars, crypto, artwork, gold, your Star Wars collection, and housing. Whether those are a GOOD investment or not is another question, but its definitely an investment.
if I purchase a home because I need a place to live, it’s not an investment. Investment comes when sale is realized. On the point of the seller. I own my home. I will not sell it. It is not an investment. It is where I live.
Whether you sell it or not, that doesnt change the fact that you have invested a great deal of money into it, therefore it is an investment. Its status in your life has nothing to do with whether you plan on making a profit on it or not, its merely the definition of investing money.