Quote:
Originally Posted by TidalWave
Buying a house is an investment, he will always have the equity, and more than likely will also gain appreciation.
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it is an investment but not always the most wise ones. It depends on where, when and what he buys. People who bought right before the market crashed a couple years back over paid where too much just to see them lose 20-30% of that equity a couple years later. It might take 10+ years for them to regain that equity. If the person sells before then they will take a pretty big loss. On the flip side if he buys when it's the lowest and gets a great deal, then he could see a nice appreciation over the next couple years.