Whose correct?
Renting for life?
While buying a home can build long-term equity and stability, renting can provide flexibility and fewer upfront costs.
Yet, as home ownership becomes a far-fetched dream for many young Canadians, can renting for life be a viable option?
It’s different for every person, and each individual’s needs change over time.
People compare mortgage payments to monthly rental rates, but mortgage payments don’t begin to cover the full costs of home ownership.
Even if monthly rent was cheaper than a mortgage payment, Bigland said many Canadians will likely spend any savings rather than invest it and grow their wealth. A lot of Canadians don’t have the discipline to save as much as they should.
The only real cash shelter we get in Canada is the principal residence exemption.
Full Read:
- https://www.canadianmortgagetrends.com/2025/08/renting-vs-buying-is-renting-for-life-really-that-bad/