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Not everything is about price appreciation or opportunity cost. Having a place to set down roots and raise your kids is awesome.
We love having a house. We don't even have kids, and spend at least half of each year being nomadic.
We just love having our own house that we can return to whenever we just want to spend a while in our own bed again or simply take a lengthy breather between being in foreign locations.
Yes, that comes with opportunity costs, but we're more than happy to foot the bill to afford it.