Who Owns the Roof?

A friend wrote this on his blog, and I liked it so much I had to
share.

  "If you sit on the sidelines and the market keeps rising, you
lose significantly. If you are in the market and prices go flat
or fall, then all real estate declines (more expensive properties
tend to fall further in absolute terms), and it becomes even
cheaper for those people in the market who want to upgrade to a
more expensive property over time.

  "Too many experts (read: economists and journalists)
try to make residential real estate far more complicated than it
needs to be.

  "Residential real estate is all about having a roof over
one’s head. You either own the roof or someone else owns the
roof and you are a renter."

What do you think?