It all depends on how much the city is growing and if the demand for apartments is on the rise.For example Rio de Janeiro 50-70 years ago was barely a city,all those big buildings you a see along the beach were not there,that land was cheap(in the south zone i mean).All those people that bought land and build there are now multimillionaires.Any kind of building there is worth quite a lot.Rio de Janeiro has the richest neighborhood in latin america and at the same time the poorest ones too nowadays.
Today:
Back in the day:
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Yeah,but that is a bullshit mindset produced by cultural marxism.Its the same as hating people for owning a car and renting it and basically anything that you can own and rent.People that think like that are just salty they dont own any real state.