Perspectives obviously vary by market and circumstance. In mine I'm fine with renting. I tend to stick around the 1700/mo range in NYC. For that, I don't have to own a car or the maintenance and depreciation associated with it. I still pay transit, but it is significantly less than the cost I paid in Ohio to drive 40-60 miles to work.
My income mirrors my actual worth. I've seen people shortchanged because companies know that person is chained to a mortgage. I'm not paying maintenance, insurance, or front loaded interest on a home. (Tax deductible not that impressive)
After rent is subtracted from my net pay I still have enough to turn around and invest in a diverse array of investment options. A home is a savings account with a maintenance fee. Viewing it as anything else IMHO is wishful thinking. An apartment is that same service fee condensed. Remember, in my situation both the house and a car have costs I don't have to worry about.
Having freed myself of those problems I have much more spare time, more investment options, and flexibility. I'm perfectly ok with not having a lawn, neighbors degrading property values, or surprise expenses. To other people those negatives are perfectly acceptable, they cite the lack of space, public transit, and neighbors as negatives. I don't mind any of them.
My income mirrors my actual worth. I've seen people shortchanged because companies know that person is chained to a mortgage. I'm not paying maintenance, insurance, or front loaded interest on a home. (Tax deductible not that impressive)
After rent is subtracted from my net pay I still have enough to turn around and invest in a diverse array of investment options. A home is a savings account with a maintenance fee. Viewing it as anything else IMHO is wishful thinking. An apartment is that same service fee condensed. Remember, in my situation both the house and a car have costs I don't have to worry about.
Having freed myself of those problems I have much more spare time, more investment options, and flexibility. I'm perfectly ok with not having a lawn, neighbors degrading property values, or surprise expenses. To other people those negatives are perfectly acceptable, they cite the lack of space, public transit, and neighbors as negatives. I don't mind any of them.