Sorry, but this is an old argument that holds absolutely no water. DVC is NOT a monetary investment like a S&P ETF. It is never pitched that way (or if it is, the guide needs to be reported). It is pitched as a way to save on future vacations - nothing else. No perks, no benefits, just save money on your Disney resort costs for the next 40-50 years. That's how it was pitched to us.
Actually, considering what we paid way back when, and the current resale market, we can sell all of our contracts for more than what we paid for them, and we've had over 30 DVC trips. So a profit can be had if your timing is right. But we'll never sell, and our kids will eventually get our points.
I will absolutely agree that you can get cheaper accommodations off-site. Absolutely agree. But we have NO desire to ever stay off-site. Ever. If you wish to stay off-site, then DVC is not for you at all, and you can get off the fence. If you are OK with staying in a value resort, then DVC is not for you. If you don't think that you will still be going to WDW in 20 years, then DVC is not for you. If you only want to visit every 5 years or so, then DVC is not for you. The list goes on. We only stay on-site, and we know that we will be going there for the next 40 years, as will our children, grandchildren, and with any luck, our great-grandchildren.
If you are still considering it, the best way to buy in nowadays is via the resale market. You save a ton over buying direct, and if you are only going to stay in a DVC resort, you are good to go. We also understand that our dues will go up every year, just like the price of every resort room will go up. But a 5% raise on my dues, comes out to less money than a 5% raise on the resort rooms, so every year, my savings are a little larger than the year before. I'm already saving over $2,200 just for a one week vacation in a studio, and we are there for at least 3 weeks every year, and usually in a 1 bedroom or larger. Imagine what we will be saving in 30 years.
And I also love these DVC threads! I will never try to talk anyone into buying, and I'm usually telling people that it isn't for them. Just like anything else, it has to fit in with your lifestyle, and what you want to do. It fits ours like a glove.