In a booming market your portfolio is booming as well. Viewed strictly as a hedge, houses would be egregiously expensive. Everyone is tacitly including in their mental model the idea that houses will keep increasing in price at whatever the recent rate has been. This is speculative.
In a booming market your portfolio is booming as well. Viewed strictly as a hedge, houses would be egregiously expensive. Everyone is tacitly including in their mental model the idea that houses will keep increasing in price at whatever the recent rate has been. This is speculative.