While I agree that we need abandon the idea of home value appreciation, there are many things that make home ownership an attractive investment even in a zero r

While I agree that we need abandon the idea of home value appreciation, there are many things that make home ownership an attractive investment even in a zero real dollar appreciation environment 1) Inflation hedge 2) Mortgage= Forced savings plan. Lots of HNers are good with money, but it turns out for the general pop this really is a good savings vehicle (provided you don’t increase your debt via refinancing). 3) Sweat equity- you can invest labor into your home, often in a somewhat enjoyable way. 4) You “should” save money over renting in most scenarios that don’t involve changing households often, as you get the recapture the value a landlord would have to charge to cover vacancies, management, minor repairs (sweat equity), and profit margin. Obviously the real world might be distorted, but the theory holds in many markets still. So really, you can have both, just with a slightly different lens and set of expectations.