It's true that the last 15 years have been a fantastic time to buy a house. And yes, you are better off compared to those who didn't do that because they were t

It's true that the last 15 years have been a fantastic time to buy a house. And yes, you are better off compared to those who didn't do that because they were too young or didn't have the money. But don't ever feel bad about this because you're basically treading water with inflation: 1. Through the years you own your home, you will pay roughly 1% of the notional value of the property in state and local property taxes EACH YEAR. You already know this. 2. When you sell your house, agents will eat 5% and the state you are in will take another ~3%. Other closing costs, the expense and the hassle to spruce up the house for sale. Round it off to a 10% haircut of the selling price. 3. If you're single the first $250K of capital gains on your primary residence is exempt from federal income tax. Beyond that the IRS will take its cut. Include the Net Investment Income Tax (NIIT) and you're looking at 24% tax on any capital gains, assuming you will be in a high tax bracket when you sell. And depending upon the state you live in, there will be capital gains taxes paid to the state. Now look around you at the prices of groceries and meals. I have seen these costs roughly double in the last 8 years. So it's not just that your house has appreciated in value -- it's more that the value of the dollar has gone down. And the plumbers and electricians and construction workers needed to build a new house have also gotten more expensive. By buying real estate you have managed to preserve your buying power somewhat so it's not eaten up by inflation. You're not as rich as you think, but at least you're better off than the intern and your younger siblings. (edit: formatting)