Buying a House? Consider Renting
If you want to live in your own home, consider renting instead of buying your own real estate. Renting is cheaper in the short term because when you acquire property outright, you would have to shell out cash or take a long-term loan.
Trends from the past several decades indicate that the housing market slumps every 10 to 15 years. Even when home prices rise from 4.5%, your income would still appreciate at 4% every year for a decade before you would save more by owning your house than renting it.
There are also a lot of expenses associated with owning a house, such as real estate taxes, transfer taxes, repairs, and the like but these do not build equity. Renting is more favorable not only because it is more inexpensive in the short term, but also because it saves you trouble, offers you flexibility and may be a stable decision when just starting out.