[jdmichal]

I mean, I guess I could refine it to say "primary residence" instead of "first property"? Otherwise, yea it's an analogy and it will break down at some point.

This is more meant to attack the idea of a primary residence being an "investment". If people insist on calling it an investment, then it's fair for me to insist that it's only covering a short position, because you need somewhere to live.