This post takes off from what I read in Millennial Revolution about a million dollar house-poor owner in Toronto, Canada. The inference is similar to what I experienced personally in Washington DC. We Americans and Canadians love home-ownership, and so do Australians from what I have heard. In my business trip to Spain recently, I learned Spaniards also cherish home-ownership almost as a cultural mandate. Then, I started wondering whether all this only holds true in large developed markets or does it apply even in developing markets. Perhaps only the developed world is living with contagious house fever?
Raman Venkatesh is the founder of Ten Factorial Rocks. Raman is a ‘Gen X’ corporate executive in his mid 40’s. In addition to having a Ph.D. in engineering, he has worked in almost all continents of the world. Ten Factorial Rocks (TFR) was created to chronicle his journey towards retirement while sharing his views on the absurdities and pitfalls along the way. The name was taken from the mathematical function 10! (ten factorial) which is equal to 10 x 9 x 8 x 7 x 6 x 5 x 4 x 3 x 2 x 1 = 3,628,800.