After the housing bubble I kept a close eye on rent/buy metrics and spent several years renting while watching many friends crash and burn after having bought.

After the housing bubble I kept a close eye on rent/buy metrics and spent several years renting while watching many friends crash and burn after having bought. But aside from the financial aspect, it's hard to overstate the extent to which renters get treated like second class citizens. When a housing situation goes south and your only recourse is to uproot and move, you're not exactly in an advantageous situation. I had the misfortune of renting from someone who more or less turned out to be a slumlord and whom I had to take to court to get my deposit back from after deciding to leave. The tenant laws were luckily very clear. A landlord needed to prove the condition of the property is what they said it was before and after, which in my case they couldn't since the damages they claimed were fabricated. But to my surprise, the judge, when considering the he-said-she-said nature of the dispute, ruled in favor of the landlord "by default", as she said, even though the law is very clear on where the burden of proof lies. I could have appealed, but by that point I had moved out of state so it wasn't worth the hassle. When I eventually did buy a home, the lender required a letter from all of my previous landlords stating that I was a tenant in good standing, even from the slumlord, who I can assure you was not interested in doing me any favors. No amount of discussion with the lender could move them on this point, and it looked as if I was not going to be able to get the house. The situation was saved when, at the 11th hour, I quietly received the needed letter from the slumlord's wife, who was apparently more sympathetic. The idea that the absence of personal letter from an indifferent slumlord could prevent me from buying property was insane, and the entire ordeal, including the court judgement, highlights the extent to which property owners are held in higher regard than renters, as the judge said, "by default". You'll find this to be true in so many situations...