[bluGill]

More importantly, nobody cares about the people where renting is their ideal condition (at least for now - in different situations different ways of living are ideal). There should be nothing wrong with renting. Owning your own should be a worse choice if you will live there for less than 5-10 years. Owning a home should be only slightly better if you will live there for more than 10 years - not enough better to make up the hassles of owning.

If you rent make sure you vote. Make sure you have an informed vote, all too often cities will put rules on rental units that make renting worse for you. (bad tenants and bad landlords exist - good tenants and good landlords need protection from the former). Likewise while rent obeys supply and demand, when property taxes go up that factors into supply and will make rent go up indirectly - is it worth it? (I cannot answer the later question - the more important consideration is make sure the taxes are similar for rental and owned units otherwise you are a renter are harmed)

[ndriscoll]

I didn't vote when I rented in San Francisco for a few years because I had no intention to stay, and thought it immoral to disenfranchise the locals. Actually in my opinion you shouldn't be able to vote until you've lived somewhere for at least 5-10 years. Certainly even if you can, you shouldn't if you know you're only there temporarily.

I don't see why you think owning should only be slightly better after 10 years; if you don't want to deal with maintenance directly, you could always hire a management company as if you were the landlord and renter, but there's a benefit to you and everyone around you when you are invested in your home and community.

[bluGill]

Risk is why owning needs 10 years. If the economy collapses you value goes down, by 10 years it will likely either have recovered, or at least not be done much. If the economy goes down and you lose your job in the process you have to sell to that down market and lose money.

Management companies have a terrible reputation. While you can use them, it is likely they will be much more costly than doing things yourself. Real estate investors tend to hire their own people for management even though this seems like the perfect thing for them to outsource because they have been burned so often. If they work for you great, but beware.

Even if you find a good management company, if the roof it 23 years old (expected lifespan 25 years) you should expect the big bill to replace the roof - over 10 years this works out since there will likely be one such big bill but not many. However if you live there less than 10 years these big bills will hit you.

[ndriscoll]

The point is if you're renting, you're already paying for those things while also introducing a middleman and losing autonomy. There's no reason why renting "should" be a better choice even on a relatively short timeframe. e.g. if more were automated to reduce transaction costs, and if the housing market were more stable, then it seems like it'd obviously be better for society for people to own even if only for a few years. On longer timeframes, we should certainly want people to own; we want people to view their surroundings as something they should take care of.