On my soap box

Last night I went to a fundraiser for American Diabetes Association on the roof top of the Newseum Residences.  It was a beautiful night with stunning views (see above) for a great cause.

I spent most of the night debating a financial advisor that's advising his multi-million dollars clients to NOT invest in real estate in DC.  He feels renting is a smarter option.  Needless to say, I was flabbergasted. 

First, a disclaimer.  I'm a real estate agent.  Of course I think you should buy real estate and that it's a good investment. 

(This is when I get on my soap box.) Beyond my natural inclinations, let's note the Harvard study that talks about the lack of affordable rentals in the United States.  In addition, there's the recent Trulia report that it's still  cheaper to buy than rent in DC (and in 50 other states in the US).  What the hell is that guy talking about and why is he advising his clients in such a manner?  Does he read the news? 

I'm always up for a debate but in this case, I think I've proved my point.  What do you think?