Population and Housing

[tomh009]

I'll say it again, because I think it bears repeating.

Renting should does not have to be a bad thing. In a reasonable housing market, renters can pay the carrying costs of a home, and don't have to come out behind owners. This was true for at least some of our history and also the history in other places.

The problem is our housing supply, not whether it is owned or not.

And in my opinion is very unfortunate that our society looks down on renters. There can be many advantages to renting. Peace of mind, stability, and flexibility are obvious examples. But they fall apart when legislation and the market conspire to make housing an investment not a home.

Edit: Some clarification:

Renting gives you peace of mind and stability because when the roof on the house I live in right now fails, I don't need to come up with 50k to replace it, nor do I need to come up with 15k for a new combi heatpump. I also have the next 3 years of rent increases locked in the same way a mortgagee would.

On the other hand, I have the flexibility to leave any time after the lease term, for free, and any time before then for a fixed cost. Unlike an owned home which has enormous costs any time you move, to say nothing of the variability of the housing market.

Do we really look down on renters? I know some professional people who prefer to rent, for reasons similar to yours. And I don't think they're looked down on. On the other hand, many people aspire to own their houses (or condos), either to "own" something, or because they believe that it's a fabulous investment. I personally think it's more of the latter and less of the former.

Finally, there is far less variety and selection in the rental market than in the houses and condos being sold.