There's a common view that home-ownership is important because a home is the most expensive asset most people will ever own and its increasing value is key to their comfortable retirement. But this view of a home as an appreciating asset is incompatible with increasing housing affordability.
There are definitely downsides to renting such as landlord issues or missing out on mortgage subsidies, but maybe a higher proportion of renters could lead to improvements in affordability. And if the well-off are renting as well, there's also more hope for better legal protections for renters.
There are definitely downsides to renting such as landlord issues or missing out on mortgage subsidies, but maybe a higher proportion of renters could lead to improvements in affordability. And if the well-off are renting as well, there's also more hope for better legal protections for renters.