The "average person" quite possibly thinks he/she is above average in terms of identifying such opportunities (cf. Lake Wobegon effect). On top of that, there

The "average person" quite possibly thinks he/she is above average in terms of identifying such opportunities (cf. Lake Wobegon effect). On top of that, there are government initiatives to "encourage home ownership" and to protect "homeowners" even if they bet completely wrong or obtained loans they couldn't possibly have qualified for if the lender had any common sense. These will tip the balance in favor of going into the housing market.