Each year my wife and I give away a substantial amount to charity. The source of the money is the income I don't have to pay in rent or mortgages because I own my home outright. Meanwhile, the current value of the home is over $2 million and we bought it for less $1 million just 12 years ago.

We also own some investment real estate. The average property has appreciated 60% in six years. But in truth it generates little current return. Around 2-3% annually due to vacancies, unexpected repairs, etc. But that is more than my short cash savings produce.

Real estate should be viewed as a component of an investment portfolio. It is offers a stream of income either in the form of actual cash or the need to spend less on housing. A mortgage operates as a form of debt and unless the interest rate is less than the return on the investment you own with that debt, then you have negative financial leverage.