Comment by ghaff
9 years ago
I don't disagree with your broader point. But I would point out that owning doesn't need to mean owning a standalone house. In addition, in general, renting starts to become problematic at some point in life where being forced to move because the landlord sold the property becomes a really unpleasant situation.
Condos are another can of worms.
I just very briefly touched on one issue with owning and why it may make sense for someone to rent for years (even if it might not be financially optimal[1]).
Books could be written about the topic.
The main takeaway is "everyone is different." And "one size does not fit all." Remember, many businesses still choose to rent over buying.
[1] plus you only truly know in hindsight what was truly financially optimal