To close a scene of A Charlie Brown Christmas, Lucy Van Pelt explains what she really wants for Christmas:
Lucy: Don’t worry. I’ll be there to help you. I’ll meet you at the auditorium. Incidentally, I know how you feel about all this Christmas business. Getting depressed in all that. It happens to me every year. I never get what I really want. I always get a lot of stupid toys and a bicycle or clothes or something like that.
Charlie Brown: So what is it you want?
Lucy: Real estate.
In addition to the words of Lucy, I recently heard a famous person describe their interest in real estate this way: “they aren’t making any more of it.” I have heard some variation of this numerous times in life. Since there are limits on how much real estate can be had, this can push prices up in places where there is high demand and limited property. (Of course, humans are pretty good at finding ways to create more real estate – think in-fill in many coastal cities – or finding financial opportunities out of what exists.)
If you have resources, real estate can be a good investment. Not only might you be able to use the property while you own it or gain money from its particular use, its resale value could be good. But you have to start with real estate or have the capital to get into real estate to reap the rewards down the road. Not all real estate is desirable – see a recent overview of some such properties in the Chicago area – even as many Americans assume that purchasing a home will pay off in the end.
And perhaps this hints at Lucy’s frustration. She keeps getting Christmas gifts for kids when she really wants to get ahead. Real estate would be a unique but wealth-building present. Forgot those ads with a car in a bow in the driveway: Lucy wants a property deed under the tree.