[biggus diggus]

Originally Posted by RonnieFoos

Biggus. We all know that renting throws money away. That says nothing. People will still rent because:

A. They don't want to be tied down to living in one area the rest of their life.
This is a fallacy. Own a home and want to move to another city? do it. You can sell your current house or if you're smart use it as a rental. Most lenders will allow you to use 80% of the gross monthly rent as income to qualify for another house. You now have that tax shelter and continue building equity. You're not tied down, you have an opportunity.
B. They are single and the cost of home ownership is greater.
Not really. My total monthly nut for a three bedroom house in North Central Phoenix is only a couple hundred dollars more than my 2 bedroom condo downtown after I factor in utilities on each and HOA on the condo. The house is substantially nicer and I only put 5% down on the purchase.
C. Home prices in Phoenix are expensive. Maybe not compared to Cali, but I consider $250,000 for a small 1 story 3 bedroom in an average neighborhood to be 'effing ridiculous. I could get the same home in Ohio for $90,000. That is no joke. Phoenix prices are below or just at the national average, I don't consider that "expensive".
D. Home buying requires property taxes. Yes, rentals include this in the cost of taxes in rent, but it is easier to pay a few extra per month than one lump some per year. Taxes are taken out of the mortgage impound and included in your monthly payment. See my response to item B.
E. Maintenance costs: Mowing your own lawn, landscaping, replacing your own appliances, etc. My AC broke down this summer. It would have cost me $1400 to fix it. Free with my rent. This is a fair point, but I enjoy maintaining the yard and having a space to be proud of. Home warranty costs about $500/yr and so far I've had two AC compressors and a water heater repaired in the past year between three homes, this substantially reduces the cost of maintenance to nearly nothing.
F. More utilities: Water, trash, sewer which are normally included with most rentals.
G: HOA costs. I hate HOA's. me too. There are more rules in apartment buildings than there are in HOAs usually, but you can buy a house with no HOA.

I'm not trying to argue with you, all of your points are reasonable but I think you are not looking at the big picture.