Why do people buy houses for investment?
It's well known that stock markets especially index funds are a proven way to grow wealth and offer better liquidity. Houses need maintenance, property taxes and hard to buy or sell quickly? Renting always works out cheaper in pretty much any part of the world, especially in places where housing is super expensive. Then, what are some reasons for this sub optimal yet hugely popular investment practice even in this age of electronic and algorithmic trading? Eager to gather viewpoints.