I think the article's limitation is that it speaks of home ownership in terms of a long-term investment - it creates a mythical home buyer who doesn't exist in reality to drive home his point. Most people (at least me) see homes as a short term investment that is highly dependant on the area you are buying in. I agree with you and the article writer that buying a home as a 30-year investment is basically the equivalent of socking away a few hundred thousand dollars into your Sealy mattress. But let's be honest - how many people do you know that buy a home and expect to live in it for 30 years and think that is an ideal long-term retirement plan? I don't know anyone that fits that description.