It might not detract from the argument but a key part of the equation is saving the difference. It's a fact( not guessing) that most do not. This to me is the one and only point that sways the argument. If you save the difference that might be better. If your an average Joe . Probably not but...
On paper for many properties it makes sense to rent. No question. But the fact remains that the majority do not save the difference. This is the real world truth. Property can/is forced savings for the masses. They could do better but generally speaking they will not.
Take two average joes...
