I rented when I was young and then bought 7 homes over 20 years as we moved quite a bit to advance the career. For the last 8 years I've also rented a work apartment in two different large cities because my job wasn't near my home.
I see the pros and cons of both and can't say that one is absolutely better than the other. Depends on your circumstances and the market at the time. Home ownership can be expensive when you account for taxes and insurance. Then again, a safe apartment isn't cheap either.
I'll retire within 9 months. The wife and I have decided we will eventually sell the house and move to the same metro area as our kids who are marrying and settling down. We'll probably rent a house or apartment the first year or two until we learn where we really want to be. Buying a house when you're new to an area is a bit of a crap shoot. You might regret, or really like it, after you get a chance to learn the traffic patterns, neighbors, etc.
From there, we'll probably eventually buy or build a house. It will be 40% to 50% smaller than our current home that supported a wonderful setting for a family of five. We're sitting on a pile of equity, and when I think about financing, we will probably only put 20% down instead of paying 100% cash.
At this stage of life, I'd rather have as much money growing tax-free in a Roth than sitting idle in a house. I can make almost as much in dividends on the equity as it will cost me in mortgage interest, and the tax-free Roth growth more than makes up the difference. Eventually the kids will get the Roths.
