Buying a house is not an investment, but it could be a place to save money. There is a big difference between a saving vehicle and an investment vehicle. Investments pay you every month while you pay into your savings every month, right? So do you want to pay or get paid every month? Most people don’t own their home. The banks own it (your mortgage) and the government owns it (your property taxes). No matter how you look at it, a house is not the best place to put your money. Your parents may tell you otherwise, society and the media will tell you otherwise, but buying a home is simply not a good investment. If you want to get rich, look into multi-family as an investment vehicle.
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