[fnordpiglet]

I don’t think this is right. An efficient market the costs are equal. I think you meant this - if you fully load the economic story the cost of ownership and renting should be equal. It’s true though that markets are rarely ideally priced. The ideal price is a mean reversion target but can randomly diverge due to a ton of other idiosyncratic factors. In fact housing prices and rents are rarely in balance. They just tend towards each other.