Even assuming things just increase at the rate of inflation, a house you can just barely afford today is a good investment because in 20 or 30 years that house is going to be worth far more while your payments have stayed the same and your income has increased.
Note that I'm very against cash out refinancing, which a lot of people are doing to get the cash that the house is worth. In my opinion the best reason to have a house is in 30 years it's paid off and now you can live there rent free for the rest of your life.
Note that I'm very against cash out refinancing, which a lot of people are doing to get the cash that the house is worth. In my opinion the best reason to have a house is in 30 years it's paid off and now you can live there rent free for the rest of your life.