> renting is extraction of wealth rather than a one-time transfer.
why is that? Renting is merely paying for shelter. The purchase price of a property would match rentals when adjusted for the cost of the capital to purchase (aka, interest payments, lost opportunity cost of capital etc).
The only thing rentals lack is certainty - you cannot get kicked out of your owned home, but could for a rental (even with enough notice - it's still getting kicked out).
why is that? Renting is merely paying for shelter. The purchase price of a property would match rentals when adjusted for the cost of the capital to purchase (aka, interest payments, lost opportunity cost of capital etc).
The only thing rentals lack is certainty - you cannot get kicked out of your owned home, but could for a rental (even with enough notice - it's still getting kicked out).