Great article!

I think your point about people failing to consider carrying costs and inflation (let alone opportunity costs) is excellent. A hugely under-considered point from people that consider their home to be a large portion of their net worth.

I do think that a house that you can afford, in a neighborhood you plan to stay in for a while, presents a great inflation hedge by locking in rent for a number of years (often 15-30 in the US).

Also, from a portfolio perspective, it is often the only levered investment that most people have.

Cheers,

@dcj