Not paying increasing rent ever year is actualized money in your pocket to save or invest how you see fit. The unrealized part is the gain in property value, a

Not paying increasing rent ever year is actualized money in your pocket to save or invest how you see fit. The unrealized part is the gain in property value, and your equity in it by paying down the mortgage. But if you consider never selling the house, paying $2k/mo in rent vs $2k/mo in (mortgage + insurance + property tax) is going to start out break-even, improve as the rent climbs to $3k for the equivalent place to live, and then be a larger benefit after 30 years when that housing payment drops to just tax and insurance.