Benefits of owning a house

I saw lots of emotion involved in several posts about housing price. Let‘s talk about the house investment or investment by general. Any investment has risk, none of I know has no risk at all. But the most risk thing to do is not to take a risk. I saw people are willing to take much more risk in stock market but not willing to take some risk in real estate which doesn‘t make sense to me.
There are several benefits by owning a house:
1. Earning money by borrowing money: In order to get rich or start business, anybody knows that you need to borrow some money from somewhere. But how much you can borrow on what interest rate? If you want to start a business and try to get a loan from bank, you know what I am talking about. When buying a house, you only need to put down 20% (or even less) and borrow 80% to own a house on as low as 5%-6% now. That is a good deal to me. Let‘s assume that everything goes wrong and house price goes down 20% (that is about the worst you can get due to historical data). You still have a roof and you can live through it. If something goes right and house price goes up 20%, that is 100% gain for you on your down payment (we definitely see the gain is more than that recently). People who bought house several years ago can definitely eat 20% down in house price in the future. Sure it is a paper gain if you don‘t sell it. But is it really just a paper gain? No, it frees up your financial situation and will bring more money to you because you are happy and you live a better live. Yes, when you are happy and live a better live, money will come to you, money will come to you.
2. Don‘t pay tax: when you gain money from stock market, or any other investment, don‘t you pay capital gains? Sure you do! And how much? 15%, 25%? That is a lot to me. But if you live your house for 2 years, all your gains over house price appreciation are tax free. Tax free! Can you get this type of deal any where?
3. Interest paid is tax deductible: Wow, you can exempt the interest you paid from your gross income. If your tax basket is 25%, you get another big percentage back! Can you get this type of deal any where?
4. Cash out from your equity: You can take out home equity loan or line of credit from your house and pay anything. If you have an emergency and need immediate money, where you can find it easily? From bank? From your friends? From your relatives? Don‘t you feel shame when you are doing that? Or can you even get it? By owning a house, it is not a problem when you need it. And it is tax deductible. Wow, can you get this type of deal any where?
5. You have roof above you: I like to make sure that when I retired, I have a house to live in that totally belongs to me. I don‘t need to worry about how to get money to pay somebody else. By paying mortgage for 30 years, I slowly am building up my equity into my house. Do I care about the house pricing that is down 100%, 200% at that time? No...
6. Live more comfortable: I do feel much more comfortable enjoying my house and my yard than living in a crowded apartment and have to be careful about not piss off neighbors and landlords.
I know people are likely to timing the market and try to get the best deal? But the question is that can you ever get the best deal? By waiting for that perfect time, you are losing money. Yeah, losing money by paying rent (for what?). And at the end, can you get the best deal you think you can get by waiting? Hm... I don‘t believe so.
If you don‘t have a house, buy one without concerning the bubble. What bubble? You can only see it after it busts. And housing is not like stock. People can afford not having a stock but can not afford not living under a roof. If you‘ve got a house and want to invest another, you can afford to timing the market.
Emotion is a bad thing in any type of investment. Let it go away from your path to wealthy. Use your brain instead of listening to media, or some other resource you rely on (one of your emotional friend?:) ).