Even if the house is worth less, the morgage is eventually paid off. Rent has to be paid forever.
I can't even imagine renting when I'm retired and have less money.
I can't even imagine renting when I'm retired and have less money.
Also homes are a bad bad retirement plan. If you're debating paying off your mortgage early, or investing said money in a 401k, 401k is almost always the correct choice, in just about every market. Debt is not a bad thing. Often having more debt means having more cash flow, which means greater investments. That's why companies don't outright buy their real estate, either.
I can only save so much money in retirement plans. A house (in the US - other countries have different rules!) is my next best retirement investment because I can live there rent-free after I retire, or I can sell it for more cash.
If you are not maxing out your retirement accounts then the house may be a worse investment than adding more to your retirement accounts.