Buying a home is not an investment, it's a quality of life improvement. Something that I usually don't see mentioned in rent-vs-buy arguments is that the housing stock that's available for sale can be very different from what's available on the rental market. The two markets are similar only at the low end. If you want something nicer, the chance that you are going to find exactly what you want is very slim. Even "luxury" apartments for example typically have beige carpet, cheap appliances, cheap bathroom fixtures, etc. For a private landlord it doesn't make sense to upgrade the property above the bare minimum either. It's just not cost effective. And if you are looking to rent a single family house your choice will be even more limited. Now, if you buy your home, with some reasonably priced improvements you can improve your level of comfort significantly. Of course, not everybody cares about these things. If you don't care too much about where you live then renting makes perfect sense.