Quote:
Originally Posted by Red
"A house is a roof over your head and not an investment" - average Joe in 1985
"In North America, that (house) is the principle way that most people build wealth." - average Joe in 2012
Wonder why houses are so expensive.....
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Housing has always been seen as a way of acquiring wealth. Otherwise, why not just rent forever. Historically, equity has been acquired largely through home ownership. That equity is often used to fund other investments, such as education for your children.