Quote Originally Posted by Harvey Specter View Post
I dont include my house in my investment portfolio (even though it has capital growth and provides imputed rents) and my decision is not investment based. It is emotional based, I chose it based on the type of house I want to live in and the stage of life and wealth I am at. If it was investment based, I would probably live somewhere smaller or choosen a place with bigger capital gain potential, or maybe even choosen to rent and buy a rental elsewhere.

If I was young, and my house was just a stepping stone, then it might be 100% investment based.
If you did not have your own home you would need a replacement portfolio of well-performing shares to be able to afford to pay the increasing rent for a similar house over the years. So when comparing investment portfolios between a home owner and a non home owner, you need to include the value of any equity owned in a home. All investment decisions have an emotional component to a greater or lesser degree.

All home purchases have an investment component to greater or lesser degree. Nimby-ism has as much to do with preserving property values as anything else. Nobody likes to see capital values erode - whether it is their home or their portfolio of NZX shares.