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DELTETED BY CHUCK:
First of all, the quality of your argument is diminished with your childess
munipulation of the name of the city of Naples. It is Naples, not Nipples.
Grow up Chuck.

Secondly, you have to look at the end result of the real estate process.
Let us compare owning vs. renting.

Example (real life) I have $30,000:
EXAMPLE 1:

If purchasing a house: I buy a 4 bedroom house for $150,000, putting
$30,000 down. I owe the bank $120,000 and I put nothing into the house over
the years I own it other than the mortgage payment.

I then sell that house for $250,000, yielding $75,000 net after commision,
payments to the bank and expenses. My initial investment was $30,000. I
now have $75,000.

I then buy a house for $350,000, putting the entire $75,000 down. I owe the
bank $275,000 and I put nothing into the house over the years I own it other
than the mortgage payment.

I then sell that house for $450,000, yielding $133,000 net after commision,
payments to the bank and expenses. My intial investment was $30,000. I now
have $133,000

I downsize and look back at that $150,000 starter home I once owned. It is
now selling for $300,000. I buy it, put down my $133,000 in down payment and
thus owe the bank $167,000.

I eventually sell the house and move into a retirement community (paid for
by my insurance). The house sells for $325,000. After expenses and
commisions I net $155,000. My initial investment was $30,000.

I yielded a net profit of $125,000 on a $30,000 investment, *and* I had ZERO
living expenses over all those years.


EXAMPLE 2:

If renting a house/apartment: A $30,000 investment over 30 years at at 5%
rate of return would yield a return of $130,000.

With an average cost of rental housing over 30 years for a 4 bedroom
apartment @ $000/month (a very low average) of $180,000, I yield a a net
loss of -$50,000.

Compare to that the ownership scenario and realize almost a $1000,000
return.

RESULTS:

A net profit of $100,000 to own.

A net loss of $50,000 to rent.

The difference....$150,000 over 30 years on a $30,000 ownership investmet.

My scenarios were very conservative.

Real estate is not an investment? Bull****. You know absolutely
nothing
about real estate Chuck.


***************

Funny, you would have thought I might have learned at least something
after all these years.
I've bought and sold a total dozens of investment properties since the
early 70's, as well as several non investment primary residences. My
primary current income is from rents and royalties. Real estate can be
an *excellent* investment, but your personal house is not an investment
property in the most accurate sense of the word.

Even if you could sell your left leg, that wouldn't make in an
"investment". You need it. Just like you need your house. If the food
in your kitchen cupboards doubled in price, you wouldn't be any richer
unless you could get by without eating. As soon as you sold your
"appreciated" food you would need to spend an equal amount to replace
it.

Summing up: Real estate = investment. Primary residence= housing
expense.

This is ever so typical.

a. You delete the majority of my reply.

b. You make up things and present them as facts, then surround your entire
argument around those made up *facts.

c. You delete sections of the post you respond to then twist the facts as
they were originally presented.

Dispute the facts all you want Chuck. The facts show that you are wrong.

BTW: Get over it, stop whining and move on.