Buying a home versus renting
Renting is framed as the worse deal for most people, since a mortgage at least builds something you own.
- The advice to never buy a home is wrong โ renters pay the taxes, repairs, and maintenance anyway, just through the landlord.
- If you can't afford a mortgage at a certain level, you can't afford rent at that level either.
- Rent is money gone every month; a mortgage puts part of that payment into an asset you control.
- Owning a smaller, cheaper place beats renting a nicer one.
Outlook: High interest rates keep pushing people toward renting, but the case for buying something modest still holds.