>>54482265boomers benefitted from a uniquely lucrative housing market, but if you look at property value over the last century, it's barely kept pace with inflation. and there's no guarantee your property will necessarily hold value. plenty of people in my shithole country are now selling the homes they purchased during the pandemic because their interest rates just skyrocketed, and all these people have effectively just lost a huge chunk of money.
apart from that, mortgagecels genuinely have no idea how much money they burn yearly to maintain their "investment." take an average $300k mortgage. after the first 10 years, you've spent around $170k just on interest for about $60k of equity. and that $170k doesn't include things like escrow, property tax, insurance, maintenance, etc.
historically, and even right now throughout most of the world, there are far more stable, liquid, and profitable forms of investment than a home. investing in your personal property is just what dopes do because they don't understand or have the discipline for any other form of investment.
and this is to say nothing of all the external social problems and systemic risks inherent in treating housing fundamentally as a form of financial speculation.
