Sorry, but there is no rational excuse to purchase real estate right now. If you do you are a dumbass, bottom line. You never want to purchase an asset of that scale that is about to plunge in value.
Sure, new or luxury cars are a terrible investment in terms of devaluation as well. But let’s be realistic with the scale here. While buying a new $50,000 Beamer is surely wasteful, but nothing like a $500,000 house.
