I didn't buy my place for the investment although I'm confident it's going to work out just fine from a financial stand point. I did it for the personal utility that comes with improved quality of life and satisfaction from having a place that I can customize and not have a landlord that I have to stress about kicking me out and / or raising rent. The after-tax all-in cost is about the same as what it would cost to rent out the place that I bought so I don't see how it is such a "lousy investment".