Housing as a long-term investment
New Yorker article. "And though they show that housing prices have risen sharply in the past decade, they also show that, over the longer haul, investing in a home is far from a sure thing; if you control for inflation and quality, Shiller found, real home prices barely budged between the eighteen-nineties and the nineteen-nineties. The idea that housing prices have nowhere to go but up is, in other words, a statistical illusion."
http://www.newyorker.com/talk/content/articles/061030ta_talk_surowiecki
New Yorker article. "And though they show that housing prices have risen sharply in the past decade, they also show that, over the longer haul, investing in a home is far from a sure thing; if you control for inflation and quality, Shiller found, real home prices barely budged between the eighteen-nineties and the nineteen-nineties. The idea that housing prices have nowhere to go but up is, in other words, a statistical illusion."
http://www.newyorker.com/talk/content/articles/061030ta_talk_surowiecki