> Housing can not be both an investment and affordable. Mathematically this isn’t true, as housing (even owner-occupied housing) pays a dividend [0]. So a hous

> Housing can not be both an investment and affordable. Mathematically this isn’t true, as housing (even owner-occupied housing) pays a dividend [0]. So a house whose price tracks inflation (0% real price return) that pays a 4% dividend in net operating income still has a respectable 4% real return. Juice that return way up with a fixed-rate mortgage and you still have a great investment without home prices racing past affordability for normal people. But that’s just the theoretical perspective. I don’t know if housing can be a good investment and affordable in practice. [0] https://earlyretirementnow.com/2017/11/15/that-house-over-there-is-an-investment/ https://earlyretirementnow.com/2017/11/15/that-house-over-th...