It's true.
Typically the money is tied up - not liquid.
I could not afford to buy my own home now.
Where I live any home under 250/foot is a deal and I'm in Nashville not Westchester.
I looked at a home that sold for 220K back in 98, 525K in 2003 and asking 795K now
and we thought it was a deal...not that we could afford it
some schlub with a net worth of one to two million ain't gonna be buying a house like that....normally unless is income is also 3-400K/year