Why do you say the house is for living, not for speculation?

Real estate is a complex economic problem, and people have different views on it. Although a house may be regarded as an investment in some cases, I think it is more like a consumer product. The following is my opinion: the value of a house comes almost entirely from the demand for living. The value of real estate usually comes from its demand as a living space, rather than the speculative demand for other securities or commodities. Compared with financial assets such as stocks and bonds, the price of real estate is closely related to the actual housing demand. Without the support of housing demand, the house will lose its value and significance. The cost of owning a house is high. In addition to the house price, holding a house also needs to pay many other expenses, such as house maintenance, property management, taxes and fees. These expenses need to spend a lot of time and money, and it is difficult for buyers to regard the house as a pure investment. Houses cannot guarantee income. Compared with investment products such as stocks and bonds, real estate cannot guarantee income. The return rate of real estate investment is usually low, and there is a risk of poor liquidity. Even in the case of rising house prices, people who hold real estate have to bear the costs of loans, taxes, maintenance and so on. In addition, the volatility of house prices is also great, which cannot guarantee that investors can get high returns at any time. For the above reasons, I think the house is more like a consumer product. Although buying a house can create a living space and a place to settle down for individuals, it should not be regarded as a pure investment. Of course, this does not mean that the house has no investment attributes. For some scarce high-end properties, the investment income may be higher, so some buyers will hold the house as an investment. As for the proportion of assets invested in buying a house, everyone's situation is different. Buying a house must be weighed according to personal financial situation, income level, family needs and regional housing prices. If a person's economic situation permits, he can consider buying a house with more assets to ensure the quality of life and comfort. On the contrary, if the economic conditions are poor, buyers should carefully weigh the risks and benefits to avoid over-reliance on the return of real estate investment.