The same way as many of the tourists don’t wear a helmet in the Kingdom. They see someone else not wearing one so they follow the pattern. it is not just the Thai’s
Since 2008 we've been in a perpetual debasement era via CB BS accumulation, at a 8% clip annually (monetary inflation) and 2/4% clip annually for CPI (variable inflation).
The stock market rises optically inline (SP500) with this, Nasdaq outpaces it due to it offsetting the cause (demographics), when ever there's financial issues - namely liquidity constraints either domestic, or in the Eurodollar Markets they introduce new techniques into inject liquidity.
What does that mean, sure eventually it will crash (and won't recover in nominal terms) but in real terms real-estate in the US looses 2.7% against the hurdle rate 12% annually (8% + 4%) and thats before taxes, maintenance, etc
You are better off investing in EM specifically in the Monsoon Region, diversified of-course but in real terms that will return more without all the hurdles, and without all the taxes.
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