+1 I think many people like houses as investments because they FEEL so "real" and tangible - you can touch them! Feelings are not a good way to decide what to invest in, however.
People also like houses because they've seen them go up all their life. In their anecdotal experience, it was the best investment. But the fact that house prices rocketed up in their lifetime is exactly the problem! People think it's a good investment for precisely the reason it's a terrible investment!
The property bubble in Australia hasn't burst yet, so I'm still listening to this. It's painful. Sometimes I find it hard not to advise people to sell their houses now...
The property bubble in Australia hasn't burst yet, so I'm still listening to this. It's painful. Sometimes I find it hard not to advise people to sell their houses now...