I would be one of them. I owned a home for 15 years and was constantly spending money to replace the roof, heating system, revamping a bathroom — because the home I could afford to buy was over 30 years old. Eventually, I realized this was a money trap and I sold and got out when I could. I’ve been renting for twelve years and for the most part, really like it. I’ve been able to live in different places, even different states. I downsized for two years when starting my business, then went back to renting a larger home when my income increased.

I think the idea that we must buy and ‘own’ the place where we live is outdated or only for those who really want it. We actually don’t own anything, and most people will never pay off a home anyway.

Passing on generational wealth isn’t going to happen by passing on a home anymore. You get generations don’t want to live like their parents or grandparents and that’s just fine.

If you wish to buy, then buy. If someone else prefers the flexibility and freedom, there’s nothing wrong with it…