Renting for life is smarter than buying a home in most expensive cities — I say this as someone who bought in 2018 and has watched maintenance, taxes, and insurance eat every bit of appreciation. My neighbor's condo fee alone jumped 40% in three years. The down payment I put down would have grown more in index funds, and I'm not even factoring in the stress when the roof leaks. Ownership works if you stay put for 20 years, but most people move within 7 and end up paying transaction costs that wipe out gains. Isn't flexibility worth more than a deed that ties you to one spot?