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Because common sense its better to investing in something than pay the same or higher to rent it.

Renting would have to be a LOT! cheaper than owner occupiers to make renting a rational decision.

Only if your investment is likely to increase in value and you can handle the continuous maintenance costs and you can take the risks associated with ownership and you can take the risks associated with mortgages and you want to tie a rather heavy anchor to your legs.

But if all these are true, then, sure, you should buy your own place.

But in the UK renting is far more expensive and in general the USA's housing is far cheaper for similar area's

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