Rocco:

I really enjoy reading your thought provoking articles. I feel that I need to challenge you on a few points that you continue to neglect with regards to the subject of homeownership.

First: homeownership is a choice. People make that choice for a variety of reasons. Most typically, they found a community they want to part of. In some cases people make a commitment to each other, have kids and then decide where they would like to raise them. The particulars of school district, price per square foot, distance to work all figure into the mix.

I understand in your pieces that you are talking specifically about your circumstances where a school district and community may not matter that much. In my humble opinion you are missing some of the best features of residing in a community by enriching it and yourself by participation.

A couple of addtional points: rent is one of the fastest growing costs (5-7% year over year according to some estimates ) whereas paying a stable mortgage payment every month is predictable and safe. Did I mention you get a 25-30% write off by the government by deducting your property tax (up to $10,000) and mortage interest? Can't do that with rent.

Homeownership is one of the best ways to build wealth in America and without it most Americans would have little saved for retirement.