@ucbalumnus it should have read smart/good investment. I guess its hard for me to see the downside if you buy beneath your means, have a good down payment, can get in at the 4% offered right now (I just signed a refinance on Monday), and know your locale ins and outs, but I am by no means an expert on real estate.
@consolation, I agree that saving should be a priority for these 20-30s. I would also agree they live below their means to do that. Just because you can afford the lease on a BMW doesn’t mean you shouldn’t drive a Civic. And just because you can afford to rent a luxury condo in the city, doesn’t mean you shouldn’t buy a cottage in the suburbs. First rule of adult economics…pay yourself a minimum of 10%, either by way of retirement fund or other investment. Second rule…have a safety net for emergencies of at least 3 months pay, preferably 6 months, and then don’t touch it.