NairalandAngel:


This does not apply here in Nigeria

Viking07:
His opinion has since been brilliantly countered and sent to the dustbin.

https://mobile.twitter.com/AyoBankole/status/1194587749560532993

onatisi:

he is more than correct , but many wont take time to do the maths and understand what he is saying . blacks are bandwagon people , once someone is doing something we all want to do the same thing.
i sometimes marvel when i see ppl rushing to build personally houses but yet they are suffering and income isnt much . the problem is a societal one as having a house of ones own and according to ppl even if it is just a room is seen as accomplishment and sign of success

aybabz101:
maybe he meant home ownership in Lagos Island is a bad investment......coz all I can reference his assertion to are only the upper class and the upper middle class Nigerians.

This is the worst advise for the average Nigerian since most of the population is struggling to meet ends needs. Now imagine paying school fees, rent, transportation, bills every month on a salary of let's say 70k, it's going to be hectic. But with this salary in a small town in 9ja and with a good cooperative society ( who gives out non interest loans) I can get one plot of land at d outskirt of a major town and develop.

Moreover, House ownership is more of a cultural ritual in 9ja. Families struggle very hard to build houses so that they can be associated with it and it is a thing of pride to them (ie, they are in there homes, no landlord or landlady can come and harass them anyhow). It gives families a sense of ownership and security.

Even in foreign countries, house ownership is a thing that most of them want to achieve and they throw big parties involving families and friends when this is achieved.

I totally disagree with Dr. Tayo. Even with the rate of inflation around d world, properties and lands are d only assets apart from gold dat I know of that there values are in most cases always increasing. This means that the prices of house rent will always increase and not the d other way round (if the quality of the home is maintained or improved upon?)

yusufu16:


Thumbs up.

The rate at which people crave to own house is alarming in this country. People even incurred huge debts all in the name of owning a house.

After owning a house, they still live in abject poverty.

Wiseoldman:
The summary is that you can own a home a number of reasons. But never own a home as an investment. It is just buring money in the ground.

Viking07:
His opinion has since been brilliantly countered and sent to the dustbin.

https://mobile.twitter.com/AyoBankole/status/1194587749560532993

yusufu16:


Thumbs up.

The rate at which people crave to own house is alarming in this country. People even incurred huge debts all in the name of owning a house.

After owning a house, they still live in abject poverty.

cue64:
the one that annoys me the most is the state where I am from, someone that has enough money to build two flat will want to build a duplex simply because his friend is building a duplex, in the end money finish house become uncompleted building, now they’ll become broke Tenants with uncompleted building....

charliboy654:
This guy na mumu o, so the house you rent, is it some someone else house.

sotall:


Did you read what he wrote?

charliboy654:
This guy na mumu o, so the house you rent, is it some someone else house.

helinues:
Na wah oo.. You guys will be using UK real estates to be comparing to Nigeria real estates.

Tax alone in UK wont allow you to have more than 1 house not to talk of having fleets of cars

AntiWailer:


What he is saying is correct.

Your inability to read is the main reason for the ignorance.

onatisi:
imagine someone who has just 5m naira after many years , because he wants to be a landlord and wants people to see him as successful , he will now use 3.5m or even more to build a house and most likely the funds wont even complete the house , he will move in and start saving again , i told one guy that why dont u buy a land of about 1m the first year ,cool down and use the remaining 4m to work and invest again , when the fund reach 5-6m, take 1 m for the project and be doing it like that till you finish the building project , since it is ur house , he told me the devil was using me against his dreams that he rejects the spirit of stagnation , now he is looking for loans and job to sustain his family and the building isnt even completed .
and i know someone whose first building is a 4 flats but doesnt stay in it , he rented it out and he is building his 3 house now , he already has planse to build his retirement home in future

charliboy654:
This guy na mumu o, so the house you rent, is it some someone else house.

etukiniini:
It is good that we understand someone first before commenting. He is making sense. In a year, he will have a nice rented apartment at 1.5m and have 3m as profit, and still have back his 40m. 3m ×10yrs = 30m profit. U decided to acquire a liability, pls who is wiser? Rem he did not say u should not own a house or property take note. Pls we r all children of God, we should learn not to abuse someone it was opinion not a fight, let's try to love our self's. Love u all

Wiseoldman:
The summary is that you can own a home a number of reasons. But never own a home as an investment. It is just buring money in the ground.