The 'trade' in all this is not the appreciation of house price. Housing is a middling performing, high maintenance cost, depreciating asset. However, you can b

The 'trade' in all this is not the appreciation of house price. Housing is a middling performing, high maintenance cost, depreciating asset. However, you can borrow against it cheaper than virtually any other asset in existence at absurd leverage ratios - and swap your cash flow for the ownership of the asset. So long as interest rates are at or below growth / inflation / or your salary increases - it is a good investment.