Unrecoverable costs are often overlooked when people weigh their options in deciding whether to rent or buy a home. ( Dreamstime )For these reasons, many people believe home ownership is the ticket to wealth, while renting is a waste of money. Article Continued BelowThe rent-versus-buy problem is not as simple as looking at the cost of monthly rent versus the cost of a monthly mortgage payment. What both of those arguments miss, however, is the total unrecoverable costs in each scenario. A mortgage payment, on the other hand, only has partial unrecoverable costs — the interest paid on the mortgage.

Source: thestar April 23, 2019 10:30 UTC