The Ownership Myth

Your uncle says renting is "throwing money away." He's wrong — or at least dramatically oversimplifying.

When you pay rent, you get something valuable: a place to live, zero maintenance costs, and flexibility.

In year one of a typical 30-year mortgage, well over 70% — and at today's rates often 80% or more — of your payment goes straight to interest. That's not building equity. That's paying the bank for the privilege of borrowing.