There are many cases where there's a lot of money in it - it depends entirely on when and where you buy, and at what price. There are houses near where I lived in 1996-97 which have gone up 4 fold in value - you could have let the properties lie empty and still made a fortune. The last house I acquired was let out on a 10% yield. People who think you can't buy a house with 25% down and generate positive cashflow simply haven't looked hard enough. You also have much more flexibility for development and alteration with houses, especially when they come with land attached.
I'm not knocking apartments, just stating that there can be big money in houses too.
