"I have made more money renting": Why buying is not always best

It’s good to hold on to your dreams, but for now, it may be time to pivot from the one about the house: Homeowners spend an average 37% more overall than renting. The typical monthly mortgage payment of a median-priced home in the U.S. is $2,703, while the national typical monthly rent is $1,979 as of February — a 36.6% difference.” Personal finance expert and TV host Ramit “I will teach you to be rich” Sethi, has been famously railing against wasting money on homeownership and takes it on in his new book, Money for Couples. “Instead of buying a house, which meant I had to go to fix things and repair things and put money inside, I just simply invested the money, and I have made more money renting for the last 20 years in superior locations with zero maintenance than I would have by owning a place.” We need your help to stay independent Subscribe today to support Salon's progressive journalism The key is to invest the money you’re saving by renting, Sethi said. “We have a very distorted view of housing in America, because deep down we believe successful people own housing and poor people rent," Sethi said. "Not only is that wrong, that actually makes many people, particularly young people and people of color, feel ashamed that they cannot compete in today's housing market.” "But my grandparents bought a home on one salary" The American Dream did make sense long ago, when housing was relatively less expensive and even a one-income family wasn’t spending 30% or more of its income on housing.