Homeownership has long embodied the American dream. But for many, it isn’t the most affordable option these days. Or the one that ultimately makes the most financial sense.
Brass tacks: In most of the country, it remains cheaper to rent than to buy the same square footage. But, of course, renters are at the mercy of their landlords and aren’t building wealth that can be tapped in an emergency or passed down to future generations. And when you factor in the current tsunami of extreme real estate price fluctuations on both sides and economic uncertainty across the board, the eternal rent vs. buy decision has become a whole lot trickier in 2023.