Is owning or renting cheaper?
Owning. U.S. tax code has been designed to promote home ownership. Home owners receive credits for interest paid toward the purchase of a home and usually become eligible for other deductions not available to those who cannot itemize. It is also true that landlords build profit into rent so buying is at least that much cheaper than rent. Over time real estate appreciates some times at varying rates but traditionally at around ten percent per year. The difference between what you owe and the worth of your home is referred to as equity. Tax deductions, discounted shelter and equity all make owning the wiser choice.
