For some, myself included, a home is not a good measuring stick for success.
Discussion
renting makes more sense in a lot of situations
agreed
owning is higher risk due to liquidity risk already and dependancy on the current economic cycle
Depends upon the relationship between purchase price and rental price, for the same piece of real estate. Around here, rental prices are so high that you're often better-off buying, mid-term. You're only out the down payment and closing costs, and that is often back in saved rent (including the inevitable increases), within 10 years.
I wouldn't buy real estate as an investment, tho.
Yes, but what is often overlooked is the return you can get on the down payment. Most people use a house as forced savings, but if you can rent and invest your savings, it’s rare for a house to be a better investment.
By every single measure, I’m better off than the generations before me, have more kids, and I’ve never owned a house.
But, if people gain a lot of pleasure from owning their house, I’m happy for them, but let’s not try to pretend it’s the be all, end all, for assessing “success”.