I read the whole Fin Review article quoted by original poster.
In the context of the whole article, I think the quoted paragraph is actually suggesting that leveraged property investments are only "paper wealth".
Even though the underlying property is a tangible / physical asset, the derived wealth is only on paper (in much the same way that stockmarket investors borrowing copious amounts of money are leveraged out to paper wealth, property investors are in the same boat).
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- Are houses really a store of chimerical / illusory wealth
I read the whole Fin Review article quoted by original poster.In...
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