Housing was and has NEVER been anything other than an investment of a neccesity.
While I do not advocate buying houses in this current San Diego market, I’m going to have to disagree with you there. I believe there are studies that show that homeowners and people who own real estate tend to be more successful and more affluent. There is a reason why there is a prestige attached to “owning” your own home, ever since the U.S. was created, and our laws and taxes reflect that value. For a long part of our history, only the rich owned homes and property.
Certainly I would applaud the movement away from a materialistic society, but the great success of the U.S. was innovating land ownership and its citizens use.
Most rich people have made their fortunes using their homes and real estate.
(…) For any flamers, please note the first part of my first sentence…
