Wife and I worked our arses off after we got married. Bought a house in MA for 127k...lived there working two...sometimes 3 jobs and raised two kids for 8 years.
We sold that house when the market was up for about 200k. Bought a great place for 125k.
Raised our two kids there for another 10 years. When they went to college and moved on we started looking and when the market was right again, we sold that house for 275k.
We bought a house in TN for half that which gave us dough to fix it up and make it a great retirement home. (Bye bye Taxachusetts). After doing more arse-working-off and saving every penny and investing smartly we have a nice cushion for retirement.
Buying houses is a good thing if you know the market, know your real estate and play your cards right. Not everyone can.
Home ownership has long been the best way for the middle class to build wealth.
This guy does not bother to tell you that not only do you have to pay income tax on your rental income you also have to pay capital gains tax (35%) on the profit when you sell. You pay no income tax on the profit from your home when you sell. At least up to $1 million. And the interest on your mortgage is a tax deduction.