True, but the practical utility of owning versus renting a house is pretty equal. Owning a house has the added utilities of allowing for social signalling through personalized home improvements and selective social group membership, also associated with educational opportunities for the children.
Also control of your life and certainty in your Costs. Landlords can kick tenants out via renovictions etc, raise rents as much as they can, and never improve the space. If you are renting are you sure you can stay there for 5 years, 10 years, 25 years?
I think if your time horizons are longer than 5 years the certainty of owning would also provide some value. I have been a tenant, am a landlord for 4 units, and a home owner.
All properties are partnerships which makes it easier to deal with operations and maintenance.
I “own” my home (ie pay a mortgage), but being worried about being kicked out of my place wouldn’t be a deciding factor. You can always move and rent somewhere else easily in most of the country.
We bought a house for a lot of reasons, but one was an inflation hedge. We don’t have to worry about our home prices increasing except for property taxes and insurance.
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