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If the purpose of buying real estate is to build wealth, then it is, by definition, an investment. If the purpose is to provide shelter, it is not. In practice
by gizmo686 5y ago
If the purpose of buying real estate is to build wealth, then it is, by definition, an investment. If the purpose is to provide shelter, it is not.
In practice, people buy houses both as an investment and a shelter. So the CPI attempts to ignore the portion of the purpose that functions as an investment.