Real estates in the third millennium

Review and perspective

A different regard to the real property (December 1999)


Allowedly, it might seem bold to dare a review exceeding the time period of a whole millennium, and to dare a look into another millennium in future. And yes, that members of the writing future – whether they are journalists, essayists or as in this case, book authors – that these people are giving birth to particularly contemplative thoughts at the occasion of this turn of the millennium. So simply take the following article of an experienced book author as an attempt to write the millennium off of his head, on top of it in regards to a subject which has so little to do with it as hardly any other.

There always have been real estates – that is for sure. The man who had given us the calculation of times has been, as it is said, born in a barn because he didn’t find place in any harbourage – or the mother giving birth has not been accommodated anywhere. Even though the (not-)father, being an experienced carpenter, had his own home, but they were simply on a journey and were looking for a place to stay. First conclusion: hotels already used to be rare and expensive back at those times, they certainly both did not have money, and the few places available were reserved to the wealthy business people.

Second conclusion: sometimes also a humble home will do. Even a cow shed had quite a value at that time, a property value, as one can assume today. One was able to place this newly born into a manger and protect it from the coldness of Palestine. And let’s forget about the rest with cow, donkey and the three kings passing by for a moment, right? But no – the three kings – they were owners of large properties already then and brought valuable gifts with them. They owned land and houses – also if they didn’t give anything of that to the unknown child.

Then a certain institution profited by this simple, introspective story – and kept collecting property assets! That’s right, without intending to pace the churches – but just take a look at how often it occurred that people who did not have heirs or wanted to aggravate their heirs or wanted to make up for their sins in last minute, gave their estate to the pastor as they were lying on the deathbed. Not to him personally – for also he may not accumulate too many possessions; no, the good, large church inherited the valuable property.

Let us not even get into calculating how many million of property assets got into the hands of higher owners this way. And how many million are still owned by those today who inherited them by such means. Nobody wants to talk or think about the dishonest intrigues in order to acquire the properties we are talking about; and besides, Christmas is by no means the time to hold forth about this very subject.

Third conclusion: nobody can take his houses with him at the deathbed. Which brings us to the fourth conclusion: one should wonder about heritage and it’s taxation in time. And with that, we somehow come to the subject of the thousand years that lie ahead. If one calculates how indebted our state currently is and how little of these debts he repays annually (in comparison to the new debts it makes, namely nothing), it might well take a thousand years until these debts are paid off in one way or another. But what are we talking about? What does this have to do with real estates?

Well, some might be in a similar situation to the parents looking for a hostel back in those days: the rents are too high and one cannot afford to buy. Because: the large assets switch their owner either by dispossession because the inheritance tax could not be paid (then it anyways falls into the hands of banks or the state); or they switch into the hands of another owner of large properties who can afford these funds.

But what about the ordinary Joe?

He will be as little lucky in the next thousand years as he has been in the last two thousand. He also must continue to pay his rent in time, otherwise he gets nasty letters from his landlord (the owner of the property), moves from time to time and otherwise gets what he has been looking for: a roof above his head under which he can put up his own manger.

And the owner? He is putting up with asset-, heritage- and property taxes, with rents that are not getting paid, with side cost bills and with his banks who are extending the high credits only when also adding further interest, every five or ten years.

Isn’t it a cross?

Yet before we let ourselves be nailed against one just as the Jewish citizen did almost 2000 years ago, we should rather get back to the actualities and look into some simple facts:

  1. Real estates have been valuable properties in the past millennia
  2. Ground on which one can build houses, streets and entire cities has not increased, even though man already visited the moon by now and sent out workable spies to Mars.
  3. If Herod would  count the populations of earth ones more then even the provision of barns would be so scarce that entire legions would probably be left over without a roof over their head on the way to the census
  4. Also in the next thousand years real estate property will remain what it has always been: a valuable and expensively rented out property, due to being so rare and not able to be randomly multiplied
  5. It is a good action to invest in real estates smartly nowadays
  6. Even a small, cosy barn is more valuable than no estate at all.  



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