On the contrary, with an FHA backed 30-year fixed mortgage, all you need to do is pay closing costs. Maybe not California because of many reasons, but take Atla

On the contrary, with an FHA backed 30-year fixed mortgage, all you need to do is pay closing costs. Maybe not California because of many reasons, but take Atlanta. A $300k house would see closing costs of $10,326. Someone making $150k+ in Atlanta should reasonably be expected to come up with $10,326 without much difficulty. Owning a home is a better investment, least of which is that the landlord won't double your rent because someone wants to pay more. I think the renting is more of a desire to not be tied down to one location because of uncertainty in the job market, and social needs.