Why renting a home may be better than buying

Is it time we rethink the American Dream?

Property value.
(Image credit: Illustrated | iStock)

It's drilled into us from an early age: Buying a home is the first big step to building wealth. But is this version of fulfilling the American Dream always the best move?

Not necessarily. It's true that homeowners on average have more money than renters, but typically it's not the houses that made them rich. If your main goal is building wealth, it's better, on average, to rent a home than to buy one, according to a recent study by faculty at Florida Atlantic University, Florida International University, and the University of Wyoming.

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