"Why own when you can rent"-HUH?

Home ownership is still a great goal and a worthwhile investment. To me this seems like a fairly reasonable statement. Not so to everyone however. Recently I was in a conversation and shared that our daughter, having secured a good post college job in her field, had purchased a home and we were very proud that she had done it on her own, qualified for her mortgage, "hired" a realtor shopped and (thankfully!) asked us to help evaluate her final choice before she signed on the dotted line. This was met with "Home ownership is a thing of the past- a losing proposition! She shouldda rented!!" I thought "Seriously?"  I think this man exhibited a terrible attitude toward what was once the American Dream.
Yes the market is still in terrible shape. Yes many people are still underwater in mortgages they will never "surface" from and yes the outlook for the near future does not look much better.
HOWEVER. If we don't start buying homes and other big ticket items, if we all squirrel away every red cent we earn because "the sky is falling" well, it will. consider this;
Rent is money you will never see again.
Rent is NOT Tax deductible.
" Renters generally have no idea what they'll be paying a few years down the line. Home owners with fixed-rate mortgages, however, essentially have the same payment for up to 30 years. Even those with adjustable rates have a cap and can figure out their maximum potential mortgage payment. The stability also comes from the sense homeowners get of being anchored to their community. "It gives you a little more leverage when it comes to community issues and activism," Cotlier says. "When you own your home, and you're paying taxes on it, you might have your voice a little better heard when it comes time to speak up about neighborhood or community issues."-By Melissa M. Ezarik • Bankrate.com

 I will grant you that it is because of the market that my daughter was able to afford a very nice starter home. The prices have dropped enough (even in this nice stable neighborhood) that made the purchase very "do-able" for a first time home buyer. Instead of the defeatist attitude of my acquaintance however, I think we need to invest in America through every means available.  Home ownership is a rewarding experience I want my kids and YOURS to have.