it really depends on what property taxes are like in your area. i'm also in a situation where renting is cheap, especially compared to other rental options in my area. i'm paying about $5000 a year for housing. property taxes would be roughly $3000 a year if i was a home owner. you also have to factor in the interest for the mortgage. so my housing expenses would be about the same or slightly less. sure, there's equity, but that's a meme cope for the usury that a mortgage is. there's also the issue that you're buying a hovel that should realistically be worth half of what they're asking for it. if the housing bubble bursts at some point, and it will, once the boomer die-off begins, then home ownership might become a good option again. for now renting can be a smart choice in a climate where there are basically no good choices.
Canada