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A more accurate headline would be: "In many US metro areas, renting may allow more rapid accumulation of wealth than buying." I've gone from renting to owning
by fatnoah 6y ago
A more accurate headline would be: "In many US metro areas, renting may allow more rapid accumulation of wealth than buying."
I've gone from renting to owning to renting and back to owning. Depending on what factors you consider to be important, then one may be better than the other or vice versa. For example, one of my periods of renting allowed me to live in a city where my work, my son's school, and nearly everything I did was within a 20 minute walking radius. I certainly didn't build as much wealth as owning, but owning wasn't an option in that area. Therefore renting was "better" by that measure.
- igneo676 6y agoAgreed Expanding on this, if you want an unorthodox housing situation or have a non-standard family unit, renting can either be prohibitively expensive or impossible. For instance, there's the Tiny House movement which all but requires you to own your home in most areas. On the other end of the spectrum, larger families (4 or more children) will often find that rental units cannot accommodate them because of local regulation regarding # of rooms per occupant