There  are numerous false assumptions. 1) stock market is more like 5-6%, 7-8% if you are aggressive/lucky,, also assuming no corrections like 2009 2) housing return in Toronto has been 10-20% 3) housing gains are tax-free ...another30-50% depending on your tax bracket. I earned $50,000-100,000 per year over the past 10 years on my house. Sure there are expenses, interest, tax, bills etc, averaging $15,000-20,000. But I still net over $50,000 per year tax free on a $500,000 principle. I would never see this on any stock market. No comparison.