Why do wealthy people always buy properties?

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Entrenched high demand, great tax benefits

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Because being a lord over a land has been the way upper classes extract wealth from those beneath them for thousands of years. Hoarding property for the explicit purpose of extracting wealth from working people is literally the business model.

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Diversification, investment opportunities, show off their wealth, support their lifestyle….etc

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Property is the better return

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They don’t. But they can

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Yes it’s a means of backup funds , when they bankrupt or”

I have a property portfolio concentrated in the northeast US. I enjoy owning property for three reasons: appreciation, because it’s a cash flowing asset, and the tax benefits (cost segregation allowing me to depreciate faster and more aggressively to offset my income).

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