This is an indication of how the IR arose in the UK. At that time the land owners were renting out their land on shorter leases. So it was decided ? by whom? to let it for the duration of three generations in the family. This should have lasted maybe 70 years, but improving health and productivity meant more wealth than normal accumulated in the hands of the tenants who worked on the land. Unfortunately, we are now in time of deflation fr the next 20-40 years so getting rich quick is no longer a wealth plan!
But what the English landholders did not anticipate was a large, one in a three-generation inflation in land prices during the term of the leases they had granted. Land prices in Europe surged, partially because the money supply surged with the opening of gold and silver mines in the new world. Meanwhile, the land owners were receiving fixed rental payments, just as the three-life lease holders were fully benefiting from an historic appreciation in land prices.
Getting into an asset class at the right time is the single best thing you can do to increase you investment returns. It's really the most important factor - more important than stock selection or individual security analysis. The lease holders got historically lucky, and their good fortune literally generated much of the capital that would finance the industrial revolution.
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