All of these analyses also ignore the fact that most people generally want to have some parts of their lives where they aren't working, and people still want a

All of these analyses also ignore the fact that most people generally want to have some parts of their lives where they aren't working, and people still want a place to live even then. My parents may have made (by the article's standards) "bad investments" for 40 years, but after rolling steadily increasing amounts of equity into a few different houses, they own the place they live outright. Even if they could have done better with stocks, the peace of mind to only have to pay property taxes and upkeep on a house is something that has substantial value in retirement.