Is it? As I remember, real prices only started climbing sometime after 2000.

I've seen this argument before. Why shouldn't it be an investment?

1. Land is a limited resource. 2. Property improvements last for a very long time, and are incrementally improved. 3. The buy-in price is relatively high, so only very interested parties get involved. 4. It's a home for goodness sake, why would you not call it an investment?

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