Largest, sure, but not most effective. A house is for most people primarily a purchase they intend to use (live in), with the added benefit that over the long t

Largest, sure, but not most effective. A house is for most people primarily a purchase they intend to use (live in), with the added benefit that over the long term is likely one of their few material possessions that will appreciate instead of depreciate. Granted, even if the 1.5M house falls by 30% this year, over decades it is likely it will still come out ahead, adjusted for inflation, compared to say, a savings account. But chances are, on average, it won't beat an index fund.