The 20-30% appreciation is in specific markets. Definitely not all markets. Several housing markets are already down from 20/21 highs and lots of markets are tr

The 20-30% appreciation is in specific markets. Definitely not all markets. Several housing markets are already down from 20/21 highs and lots of markets are trending downward. Again, securing financing in 20/21 was great but buying real estate at those prices wasn't great relative to alternatives. If a mortgage was you only way to get leverage in 20/21 then you should've taken out a mortgage. But if you had other ways to get leverage at the lower rates -- eg taking out a line of credit on existing real estate or borrowing against assets -- other options have been performing better and especially over the next few years will continue performing much better.