Compared to renting, you pay substantially more when you own. Maintenance, repairs, insurance, property taxes, full utilities. Mortgage is just the base you pay.

At the end of the day, sure you own the house, but all those extra expenses don't go away. Lately I have been seeing retired home owners selling because they can't afford all the upkeep so they end up moving into a smaller unit.

Decades ago buying was a no brainer, but do you really think houses will continue to appreciate at this rate? Will a 2 bedroom run down bungalow really be worth 2 or 3 million in 10 years? At least with renting you can invest that money you save from not buying and get a guaranteed return.

For the record, I'm not saying not to buy, but you should not just buy because you think it is a good financial decision. It might not end up being the case depending on where you live