How is the biggest purchase of someone’s life not consumption? It’s can be both, although, I would argue the investment aspect of a house is minor and irrelevant since you always need somewhere to live.
The mortgage debt has to be serviced, and your kids have to go to the schools in the richest areas (aka best schools). Hence once you have kids, most are innately pushed to stretch themselves so their children have access to the best possible future.
The mortgage debt has to be serviced, and your kids have to go to the schools in the richest areas (aka best schools). Hence once you have kids, most are innately pushed to stretch themselves so their children have access to the best possible future.