Some people just want a place to live close to work/whatever that doesn't have high maintenance (e.g. rent/mortgage/taxes). In a "hot" city it's trivial to get

Some people just want a place to live close to work/whatever that doesn't have high maintenance (e.g. rent/mortgage/taxes). In a "hot" city it's trivial to get very modest places that have monthly tax bills more than rent is on a similar sized place in the mid-tier NFL city I grew up in. That's a lot of cashflow to be burning - even if the investment is appreciating faster than the burn. It eventually forces you to sell and move, when your goal was not an investment but a place to live and make a home.