Consistency and predictability vs speculation and volatility.

Finally just had to jump in.Even though we are in a low volatility and appreciation area (SW Ohio) the house is now worth about 270k.

Emerging markets are volatile due to trade.

But I would argue that primary markets are more volatile when it comes to prices --- especially on the residential side. 

More importantly, volatility has driven up the delta between the Federal Funds Rate and 10-year Treasury rates and between 10-year Treasury rates and MBS rates.With the inflation numbers looking better last month (again, artificial, but that’s what people think), we're already seeing lower volatility and a drop in these deltas, resulting in lower mortgage rates. 

It is just important that you prepare for the additional capital expenditures as they tend to have higher turnover and management fees due to the volatility of those areas.

Frankly, with the market shift, volatile material costs, risk, etc. we have decided to not build for "end-user clients" anymore and put ourselves in the "client" position. 

My worry is that the vacation houses are too volatile, i.e. they are the first to lose value in recession and the last to recover.

While it grows slower (but with much less volatility) than an IRA or 401k, you can take more money out during retirement and for much longer.

The only generalized true statement I can find is "Volatile".