> This isn’t 2008, at this point I think people are underestimating the speculative home buyer. The people who are buying houses now are more likely people look

> This isn’t 2008, at this point I think people are underestimating the speculative home buyer. The people who are buying houses now are more likely people looking to build rental income cash cows. I agree that most people investing in real estate aren't hoping for the underlying asset to significantly appreciate in value. Real estate pays significant dividends (more than stock), and you can be confident that it will provide a hedge against inflation. Owning real estate also has a lot of tax advantages over stock (you can write off upkeep expenses and you can do a 1031 exchange, for example).