borrow at 8% for a 2% net return ? ouch, page-32

Blowy,

Compare the price you paid 14 months ago in 2020, and then inflation-adjust it to work out the 'real' price gain.

Except it won't be a gain, it'll be a loss.

Your house might be worth more in 2020 in nominal $ terms but not in real terms. This is what the savvier bulls don't want you to know.

E.g. If a house is $500,000 and the mean wage is $65,000 in 2011 and then in 2020, the same house is worth $600,000 and the mean wage is $100,000, has your house gone up?

The answer is it's dropped a lot. You could have put your money in something else that tracked inflation. Even bank interest goes close to that.