Not in kenya, kama kuna kitu wakenya hawaezi uza for dirt cheap prices is land. The kenyan realeastate market is vastly different from the American one for obvious reasons. Kama saa hii i am living in a bungalow where i pay less than $300 for rent which i am very sure i could be forking out over $3000 if the same house vile tu iko was in Ithaca, NY or Alpine, New Jersey in an equivalent neighbourhood. That’s the difference, kenyans can afford to wait out bad market prices if push comes to shove, Americans cant. Land in kenya will always be overpriced and u will take years to break even trying to extract value from it.
The keywords here are Those who have someplace to call home where they can produce some food will have some reprieve.
Obsession with putting all your investment in land is not a smart way of looking at it then.
If you own a small piece around your decent permanent family home, put the rest of your investment elsewhere besides land then.
Prices in Kenya don’t crash because land purchases are largely not financed through debt. The market corrects by prices stagnating and sales reducing, not the prices. US real estate crashed because it is usually largely financed through debt.
Land values in Kenya are at the highest. Especially around CBDs. Land value decreases as you go outward any city because demand is less due to travel times, etc. But in Kenya, the government is opening up those outward areas building new roads and small towns are emerging. This whole concept of buying land was influenced by returns people saw from the 70s through 2000s. Such returns will never be seen. Purchase a home in Kileleshwa for 1.5 m in 1990 and it’s worth 200m today. A plot for 1m today will never cost 200m as a comparison.
land in kenya is too overpriced for instance akina bingwa wakivamia mahali the prices sky rocket if you had an interest unapata umegeuziwa bana
Barter? Apocalypse? Hyperbole. But I will indulge you. If value of money slowly depreciated over the next 20 years, access to nutritious food will become more and more of a challenge to many. Still, I am saying that depreciation will likely not be slow, in my opinion. What will not depreciate is the essentials: food, water, shelter. And that is where land comes in.
Very true. A friend talked me out of sinking q substantial amount of money into building a home. You build such a huge home only fr your kids to leave the nest anf you are left in a shell. Better to rent the when retirement comes you stay in airbnb’s wherever you want to live.
What did you do with the money??
Crypto. I’ll make 5-10x on that sum which will make me a very very tidy sum in dollars if things continue as they are in the crypto market
I am glad this debate has elicited reactions from both sides of the divide, intellectual discourse should always be encouraged.
I think this is the greatest economic injustice that has befallen our country because the net transfer of wealth from inheritance of land from one generation is exponentially decreased in worth.In other words, except for the lucky outliers who snagged a parcel here or there into what became Karen or Runda,I would say that more than 95% of people have remained cash poor because of the logical fallacy of assuming they inherited “wealth”. Yes,you have two or three odd parcels of land worth 1,2,3 million in your name… that’s on paper…but you realize f*ck, I can’t even raise 50k in an instant if occasion arose. If this land is such a great thing,why is it everywhere you go including your own friends “Tunachanga” is a national slogan? Pre-wedding, wedding, hospital bills, funeral, small emergency all have paybill numbers for collecting?This land that we so dearly hold on to for a rainy day,what purpose exactly does it serve if it can’t get you out of a pickle? Some of us have been holding onto land in our families for over 50 years but why is the country in the dire cash crunch we are facing yet everyone is the proud owner of a piece of land?
Even worse,is the sentimental value that we have attached to this ideology that land should never be sold, and therefore even in our own families we have held on to land for far too long only to be forced to lose it at the hands of a shylock or a bank because we refused to see it for what it is,an item like a paper or sand or stone,that is to be held and disposed of when better opportunities present themselves. It has forced us to be so slow in even making personal economic decisions because we are almost in a state of trance trying to conserve capital yet the world around us is creating NEW wealth, not passing plots from one citizen to another.
When Google IPO’d on the NYSE back in 2004,it created 1000 Dollar Millionaires overnight,think about that for a second!
https://www.cnet.com/news/life-after-google-with-millions/
We are so incredibly fucked up ideologically to the point of even being convinced that we have dynasties…in a THIRD WORLD COUNTRY!?what exactly makes Uhuru and his cronies dynasty?
It is the land and buildings they own that we have been brainwashed to covet that makes you think they are ordained by higher powers…but can that land build a rocket that gets to Mars?can it be put to use to create vaccines?can it be used to attract the best brains from around the world to build incredible products?HELL FUCKING NO!
Wake the fuck up people.
Are you a professional trader??
Thank you
If you have some ancestral land you are willing to sell, I am willing to buy.
In other news: Not withstanding the long held adage that the level of education of the mother is the greatest predictor of the health of a baby; The biggest predictor of severe dehydration for babies with gastroenteritis among peasants in Kiambu is whether the parents own the land they live on. Not even the education level of the mother.
@Kibokoyao naona umedodge swali. My guess is that uliingia crypto this year ama last year. I suggest uende pale reddit usome story za crypto za 2018. Uone vile watu walipoteza nyumba na other assets kwa crypto.
Lakini hakuna kitu ngumu kama kuambia mwanaume awachane na deal wakati yeye anaona akiomoka tuu. They never listen and you probably wont also. Hizi streets za crypto kama wewe sio pro utaumia sana. You have been given a fair warning. Hopefully hutalia premium tiyaz juu najua umewekelea pesa kibao.
If you are not a professional trader, usiingie na pesa yenye ungejenga nyumba because of greed. I saw people lose millions in 2018. It was extremely sad seeing guys in their forties losing their life savings.
LMAO. Iv been in the game since 2017. I’m not here to argue. If you think you know me then it’s ok. Each to their own boss. Your opinion won’t affect my cash flow.
There’s nothing new you are telling me that I don’t know. I’m not these newbies that yu are used to. Go preach to those who don’t know anything about this.
I asked a simple question gathee. No need to get defensive. Nimekuuliza if you are a professional trader. You should just have answered YES maneno iishie hapo.
I don’t want to be drawn into an argument boss.
If you are a professional trader, then more power to you.
The house your grandpa built is not used by his grand children?