The doom and gloom crowd here is an artifact of the boom/bust cycle that's a recent memory, and folks living in areas with insane pricing. If you're paying on equity, even if the house value declines slightly you're recovering some $$$ over time when you move.
The other key thing is that you need to have a traditional mortgage where you are actually paying down principal.
Without the ownership element, your family is subject to the vagaries of the market more directly. What happens when your high school sophomore is yanked out of school because your lease is terminated and you can't afford or get an apartment in your area?
The doom and gloom crowd here is an artifact of the boom/bust cycle that's a recent memory, and folks living in areas with insane pricing. If you're paying on equity, even if the house value declines slightly you're recovering some $$$ over time when you move.
The other key thing is that you need to have a traditional mortgage where you are actually paying down principal.
Without the ownership element, your family is subject to the vagaries of the market more directly. What happens when your high school sophomore is yanked out of school because your lease is terminated and you can't afford or get an apartment in your area?