Muscleman's family is Chinese from his previous posts. This is why the Chinese wind up owning most of the real estate. Because we have had 5,000 years of dealing with land scarcity. Americans has this wide open land mass that allow them to continue to build outward. So Americans tend to think of renting. Either that or Americans are lazy people who spent all their money. They make fun of the Chinese people for speaking bad English and working in the Chinese take outs. The kids winds up saving money and buying the RE who they rent to the Americans. I'm half joking and half serious. But I have seen enough of these stories play out that it's got an ounce of truth to it. Ask any Asian parents for $50k to start a hedge fund and they will scold you for gambling. Ask them for a $250k down payment and they will re-mortgage their primary residence to help you out.
Muscleman's quest to look to buy a vacation rental and your response are very telling of the different philosophical approaches to real asset ownership. My $0.02
I don't get the fascination with tying the majority of one's net worth in an asset class like housing. The majority of Canadians are in that boat right now which doesn't bode well for the future. I would rather live in one primary home that has a lot of nice stuff - couch, chairs, bed etc that I'm going to spend the majority of my time living in than having multiple homes and dwelling with all the upkeep costs associated with it. I think it's much easier to have an diversified investment portfolio comprised of dividend paying stocks that will provide you with multiple streams of income that requires very little effort to maintain. And it's liquid in case you need to raise some cash quickly.