Housing as investment is a mindtrick, and a dangerous one at that.
With it often comes property taxes. There's the time and cost of maintenance. There's the friction of being able to easily relocate for a better paying job.
Worst of all, past performance is no indication of future returns. That is, it's possible your property won't appreciate, at least not sufficiently. For example, think Detroit. Or beachfront property in say 25 yrs. Or McMansions. Will smaller less consumption-minded families in the future want them?
Housing works as an investment because everyone is in on the scheme. The gov. The banks. Everyone. And it's still a roll of the dice.
With it often comes property taxes. There's the time and cost of maintenance. There's the friction of being able to easily relocate for a better paying job.
Worst of all, past performance is no indication of future returns. That is, it's possible your property won't appreciate, at least not sufficiently. For example, think Detroit. Or beachfront property in say 25 yrs. Or McMansions. Will smaller less consumption-minded families in the future want them?
Housing works as an investment because everyone is in on the scheme. The gov. The banks. Everyone. And it's still a roll of the dice.