I am not saying it is a safe /investment/ I am saying it is a safe(ish) /value store/. There is a big difference.
Your comment is the equivalent of saying "Saving accounts are not a safe bet. If it were everyone would be putting money into savings accounts until it stopped being a safe bet."
You have to pay so much to have a roof over your head whether it is through rent or through ownership. Even if a house is a loser, investment wise, it can be a winner value-store wise.
Now, you can totally mess that up by buying a home at the peak of a bubble and watch it tumble to near worthlessness, no doubt. But that is not the situation 99.999% of potential homeowners face.
It's safe-ish /as long as you continue to live there/. If you ever need to move for whatever reason you're back to the mercies of whatever market cycle happens to be in force.
I am not saying it is a safe /investment/ I am saying it is a safe(ish) /value store/. There is a big difference.
Your comment is the equivalent of saying "Saving accounts are not a safe bet. If it were everyone would be putting money into savings accounts until it stopped being a safe bet."
You have to pay so much to have a roof over your head whether it is through rent or through ownership. Even if a house is a loser, investment wise, it can be a winner value-store wise.
Now, you can totally mess that up by buying a home at the peak of a bubble and watch it tumble to near worthlessness, no doubt. But that is not the situation 99.999% of potential homeowners face.