It's a very simple mathematical error - people compare the cost of a mortgage payment with the cost of a month's rent, failing to take into account that only a tiny fraction of the mortgage payment actually becomes equity.
If they actually sit down and work it out, most people are astonished at how much flexibility they sacrifice for that small slice of equity.
If they actually sit down and work it out, most people are astonished at how much flexibility they sacrifice for that small slice of equity.