That is a good post, but as Christopher Mayer points out on the NPR piece, you have to be very careful about the market.
Cities with historically strong housing markets, such as Seattle and New York, have a very high ownership premium. Other cities with a more traditionally flat housing market, such as Pittsburgh or many rural communities, do not.
So if you live in Seattle like Tim, by all means, renting might be better for you. But in Madison, Wisconsin you might spend the same amount to own a house as you do to rent one.
Cities with historically strong housing markets, such as Seattle and New York, have a very high ownership premium. Other cities with a more traditionally flat housing market, such as Pittsburgh or many rural communities, do not.
So if you live in Seattle like Tim, by all means, renting might be better for you. But in Madison, Wisconsin you might spend the same amount to own a house as you do to rent one.
YMMV.