Where you in a coma in 2008?
You guys aren't good at math.
Let's take your logic:
buy at house 200k, 30yr fixed 4%APR
with Interest you'll pay out $488,705.68 after 30 years, not included your upgrades and maintenance.
In a stagnant market like now, you'll be looking to sell it for 200k, and you've put over a 1/2 a million into it.
How much did you put down on it? Who is silly enough to buy a house without a hefty down payment and also still be looking to make a profit in the long run?
I'm not saying it's the best money maker, but it's definitely not a bad place to put your money.