This article is rubbish. What it completely misses is that while you are paying for your house, you are also getting somewhere to live. That money that you pay for a mortgage would otherwise go to rent. Not only that, rent is subject to inflation, whereas mortgages are only variable based on changes in lending rates. So for a mortgage, maybe average 4% interest over 25 years and work out the cost. But for rent, take this year as the baseline and then add an inflation rate, currently at least 3-4%, but even if only 2% when compounded over 25 years is a lot of money!! Plus half the costs he attributes to owning a house, such as furnishings, baby gadgets, etc, are incurred regardless of whether you rent or own.

Absolute garbage.

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