Comment by TheAmazingRace

I will say, one huge advantage for home ownership over renting is when you are in a dual income household and have kids. Your lifestyle isn't going to be as compatible with moving around constantly trying to find a good deal (like I'm able to as a single person). And if you do plan to stay put for 10 years or so, you will most definitely come out ahead. But you really need to be in the right mindset and phase of your life for this to truly make sense. I often times see others not really ready to settle down rush and buy a home, only to end up regretting the decision a few years down the line, sometimes even sooner.

I will also note, that the notion of having access to a cheap line of credit, like a HELOC, can be a fantastic tool when used correctly. But... I'm also seeing folks abuse this to keep up with the Joneses. And when times get tough, they won't be able to pivot and might end up defaulting and then losing their home in the process.

The overall state of the economy will still need another major shakedown before those elements of society get their wake-up call. It sorta started happening with Liberation Day, but we bounced back rather quickly... so who knows when that would happen.