From a very macro level, buying a house is like making a highly illiquid, incredibly non-diversified investment. The returns can be strong, but it's definitely

From a very macro level, buying a house is like making a highly illiquid, incredibly non-diversified investment. The returns can be strong, but it's definitely a higher risk play than other investment vehicles. Personally, I'd only do it for a place I really wanted to live in, and a place I could afford without worrying about rental income or appreciation. Then, you have a longer time horizon to recoup your investment, and at minimum you are buying cost certainty, which is something that you won't get in most rent situations.