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True, there are huge benefits to owning a piece of real estate in a hot market. But, there are downsides also. Like huge risk. I paid 570k for my house 3 1/2 years ago. The house might have depreciated to mid 90s levels - around $250k. But I got lucky. Some people might be able to retire on what the house is worth today. There are people living on my block who paid $250k for their homes... now they're worth over $1 million. Are they wealthy? No way. Both people work, they drive 7 year old mini-vans and have one 2 week vacation every 3 years or so. Just middle-class America. Sure, they could cash out and move to Missouri and be considered wealthy.

All I'm saying is that its not as easy as it looks. I'm self employed and have had a crushing, $3000 a month mortgage payment + $500 a month in property taxes. Add another $1000 for utilities, pool cleaner, landscaper, etc. I don't have a significant other with a nice, $100k per year job like many of my friends. I've had many sleepless nights wondering how in the hell to keep this thing propped up, believe me. After a while, no matter how nice it is here, it just gets old.