This isn&#x27;t as outrageous as it sounds.  In the time that your dad&#x27;s house went up 12X, the S&amp;P went up 20-30X.  (In the 1970s it was in the 65-100 range, and now it&#x27;s over 1900)<p>While the calculation isn&#x27;t quite this simple (dividends on stock versus not paying rent, and interest deductions) it highlights that real estate appreciation isn&#x27;t quite as crazy as it&#x27;s made to sound.