[EA]

Even if you're buying a home, you're investing. You get a return on it. So say you have to replace a water heater, stove, and ac unit for 7500. You come out ahead because you're putting 12,000~ equity into your house by paying the mortgage.
Sure, you don't have to pay 7500 if you're renting, but at the end of the year, you've lost 12,000~ in equity.
Renting is throwing away money.

There are exceptions, of course. If the market is tanking like 2007, yeah, don't buy a house.
Don't pay 200,000 for a 40,000 house. Don't buy a house in between 2 crack houses. Use some common sense here.

[lkmax]

Originally Posted by EA

Even if you're buying a home, you're investing. You get a return on it. So say you have to replace a water heater, stove, and ac unit for 7500. You come out ahead because you're putting 12,000~ equity into your house by paying the mortgage.
Sure, you don't have to pay 7500 if you're renting, but at the end of the year, you've lost 12,000~ in equity.
Renting is throwing away money.

There are exceptions, of course. If the market is tanking like 2007, yeah, don't buy a house.
Don't pay 200,000 for a 40,000 house. Don't buy a house in between 2 crack houses. Use some common sense here.

Renting is pretty much always throwing away money. Even if you buy a house that depreciates in value, at least you have something to show for all of the money that you've spent over the years. I hated renting. Sometimes buying isn't an option, though.