Fiat money turned real estate into a consumption good, where most people just live in it. A bit ironic since most people treat it as an investment, but most real estate doesn't generate any cash flow ...
Well said. I beat this drum all the time. If you have to pay more each month than it makes it is a liability. Most people pay much more for a home than they ever get back when you count interest and maintenance in the equation. Nevermind how much more homeowners insurance is than renters. Homebuying in most of the world is an emotional gamble at the best.
