I generally agree with your point that you are not investing if you are not taking a long position in an asset above its needed weight.
When the typical person buys a home they do so with a lot of leverage. 20% down gives you 80% debt which is now 4x leverage.
The way I see it, you have two potential choices when you are considering an home purchase with debt like a normal American.
1) Go short 100% the value of a house.
2) Go long 5x 100% the value of the house.
When the typical person buys a home they do so with a lot of leverage. 20% down gives you 80% debt which is now 4x leverage.
The way I see it, you have two potential choices when you are considering an home purchase with debt like a normal American. 1) Go short 100% the value of a house. 2) Go long 5x 100% the value of the house.
Neither option puts you at market neutral.