As sibling comments note, not necessarily due to appreciation being baked into housing costs.
Additionally, the owner and renter may have different risk tolerances where in the renter is comfortable putting cash in the stock market, the owner might want lower-risk, lower-yielding assets.
Finally due to tax distortions, the owner may have a better deal on their own house than a prospective new owner could get.
Additionally, the owner and renter may have different risk tolerances where in the renter is comfortable putting cash in the stock market, the owner might want lower-risk, lower-yielding assets.
Finally due to tax distortions, the owner may have a better deal on their own house than a prospective new owner could get.
The Bay Area is an example where renting is much cheaper than owning: https://medium.com/@usaar33/why-you-shouldnt-buy-a-home-in-t...