yes I agree. I was always told, and believed "a house is for living in, not an investment". It figures in my retirement plans in the sense of not having to pay rent on my house as I will own it. That is really positive because it also means not having to pay tax on the money that I would have to have to pay rent.

But I bought it because I wanted to own it and live in it, not to sell and make money off.

Having said that it's obvious that the availability of cheap money has jacked up housing costs to a stupid level, and it's obvious that when it unwinds there is going to be a big mess. What stops it from unwinding - immigration... because as soon as immigration stops the pressure will go out of the housing market and a-la Japan houses will get cheap.

The majority homeowner class. Which is why politicians enabling it keep getting voted in.

I presume by "everyone" they mean upper middle class folks

I assume it’s more people who’ve bought a house, sell it to downsize once the kids have moved out and use the excess towards their retirement (to make up the difference between the low amount they’ve been able to scrape together over the years)

everyone that matters...