Along with the other factors that I've explained before, you can see dramatic differences in prices with condos.I'm not disagreeing that a condo has more risk than a typical SFR, but I believe that your assertions that the only factors that are relevant with a property are exterior changes and everything else is nominal - I believe to be dead wrong.While I'm sure you can find examples to prove your case, I can find just as many to disprove it.Finally, when the house across the street from yours with a similar square footage lowers their price - they are also lowering the value of yours - unless you ignore the property in your comps.

It would be more like buying stocks or bonds.

When I was 20 years old, I was in San Francisco at the peak of the .com bubble, I put all money into tech stocks like everyone else and lost my shirt.

many of my friends classify me as 'rich' now. i think it helps that they are poor though...lol in all honesty, after working with people of all lifestyles and all networths, i don't think you will really 'know'. if you notice, those that do have the money and that we may deem to be rich, still want more and more. call it gluttony if u will, but i think their mindset is dead-on!

At 2 Million, it is a dead dog.

Ever think about how much dead weight that is in such a small area?

Problem is if you decide not to work or something happens, they are stuck on dead asset, go through eviction, or foreclosure process etc.

Is that an option or some other stock accounts?

A buddy of mine said to me a few years ago, "If the world started over how would you provide, you can trade stocks (I was really into the stock market at the time this was before RE) but that's useless, you wouldn't make it."

Also I don't take to much stock in NPV as it relies on a somewhat arbitrary value for your discount rate.