When people in the crypto world discuss whether real estate is worth investing in, they should actually look in the mirror.

▰ If you made wealth of the same level in traditional industries, what investment portfolio would you want them to be stored in? Is it freely flowing high-liquidity assets or low-liquidity bricks?

▰ If you, with a god's-eye view during a deleveraging cycle like Japan's, would invest in what kind of assets?

Everyone has long been the envy of traditional rich people, Mrs. Watanabe.