To me I have to side with the former. Homeownership to me is about community, a long term decision about where to live based on my current lifestyle & thanks to this country, it has enabled us to take advantage of this, “American Dream”.
You know, the dream that we can stake a claim is what is ours, what we work hard for on a daily basis, the thing that makes us as Americans tick.
But then there’s those who feel the ideology is worthless, worth only to those who reap the rewards. The rewards of money & fortune.
You may say, yes you’re right, but only to those who have money to spend. True but every has living expenses. How do you ever expect to reap those rewards? By renting alone? Highly unlikely. Those who never take the risk will never reap rewards. In real estate or in life for that matter.
It boils down to what you want from it. If money is your primary objective then good luck. But if lifestyle & long term tax shelter is your goal, then more power to you.
Real estate is not a get rich quick scheme. It may have been 5+ yrs ago but it never will be that easy again…at least in our lifetime.
So what’s your take? Buy or rent?