Why, in today's market, do you buy real estate?

[Cory J Thornton]

In reading The Richest Man in Babylon (a must read if you haven't already), it drives home the point that ever dollar is a worker and should be put to work with a specific job. 

Markets change, and as market factors change, the job we give to each dollar should also change. 

What purpose does real estate play inside of your portfolio? Why do you buy investment property?

- Cash flow?
- Appreciation?
- Tax Advantages?
- Asset Diversification?
-...?

In a market where it is increasingly difficult to buy real estate, where expenses are going up, and rents are trending flat or downward, what drives you to keep investing in income properties?