I think you have to figure in appreciation. The national average is 3.8 percent per year. I have yet to own a home that was not worth a bit more after ten years.

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For most people it comes down to a comparison of the rental payment to the mortgage payment. You have to weigh your mortgage payment, taxes, insurance and maintenance vs rent.

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But you make a great point that it is much riskier for short timers or anyone who's job makes them move around the country.