This can absolutely change people’s lives. Paying rent can make it impossible to save for a down payment. A 30k windfall (inheritance) helped my wife and I make the down payment on our first house. And then our mortgage payments were cheaper than our rent was. Even if the overall “sticker price” of a home is higher, it’s a negligible difference over the lifetime of a loan.
This can absolutely change people’s lives. Paying rent can make it impossible to save for a down payment. A 30k windfall (inheritance) helped my wife and I make the down payment on our first house. And then our mortgage payments were cheaper than our rent was. Even if the overall “sticker price” of a home is higher, it’s a negligible difference over the lifetime of a loan.