‘real estate’
let’s clear this up.
real property is what you’re standing on. real estate is real property that’s desirable to somebody.
the houses on the promenade are real property all the time. the promenade is real property, but nobody lives there. a place isn’t real estate unless you want to possess it.
real property is always simply immovable; there is nothing to compare it to. but some real estate is better than other real estate.
Conventional wisdom says the more people who want it, the better the real estate. But this is not true. Real estate can be good because nobody wants it. It’s all very personal.
You could imagine, for example, a busker who prefers union square station to jay street-metrotech because the real estate’s better. That perfect spot on the beach is good real estate. Why might any of these possibilities be true?
When you try to use real estate to describe things that aren’t for sale, or aren’t even real property, you’re chasing a metaphor. This is encouraged.
