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A personal residence as an investment isn't a good one unless you're buying in an area with insane growth like LA, NYC, Boston, etc. But people buy for different reasons i.e. you have kids and want a nice area with good schools, a big backyard, swimming pool, etc.
The problems as an investment are the property taxes, interest, and upkeep/maintenance all eat away at the profit. Most of the time you'd have made more if you just rented.
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