Part 3/12:
Contrary to popular belief, homes are often not the stellar investment people assume they are. Felix points out that common biases, like salience bias, distort perceptions. Individuals focus on the purchase and sales price of a home while disregarding the often considerable ongoing costs associated with ownership. While some homes may have seen significant appreciation, when calculated against inflation and the total costs of ownership, the actual returns may not be as impressive as they initially seem.