David Bach

It's not possible.

So it's fascinating to me.

We know what builds wealth.

We know what builds wealth in the United States, but it's not any different in Australia or Canada or New Zealand.

Go around the globe.

What builds wealth?

Two things build wealth.

Real estate and stocks.

Those are the two primary escalators to building wealth.

They just are.

Like in the United States, there's $35 trillion roughly in home equity.

That's the wealth that's in America.

It's sitting in people's houses.

The other place wealth is sitting is in the stock market in retirement accounts, and there's $45 trillion in retirement accounts.

I don't know the numbers in Australia.

But what's happened is that there's been a generation of financial influencers that come on podcasts like this and tell people, you can make more money in the stock market than real estate.

You shouldn't buy a house.

And what gets lost in that message is this.

Unless you're going to live with your parents for the rest of your life, you're going to have to live somewhere.

So you're going to have to rent something.