That depends almost entirely on the rent to value in their local market, and is far more volatile than index funds. I rented a 1.3m home in CA for $3,500/month

That depends almost entirely on the rent to value in their local market, and is far more volatile than index funds. I rented a 1.3m home in CA for $3,500/month, made no sense to buy at that level other than a forced savings program.