Why invest in real estate and not the stock market?
My family has always owned rental units since the 1960s. It is what we have done for investing all our lives. However, why not just free yourself of all the work that goes into owning rental property and put it in the stock market? The rate of return in the stock market (at least that I've read on the internet) seems to be averaging about 8% long term. Is real estate such a better deal? My analysis spread sheet doesn't beat 8% most of the time (at least on a cash return on investment basis) until the property has been in my possession for about 5-10 years.
Can you please convince me (again) that putting most of my money in the stock market is crazy and that rentals units are a far better investment? I would love to hear the persuasive argument from those who have more experience and knowledge than me. Thanks in advance!