Does it make sense that the world fits perfectly in a one size fits all answer to your question?
Whether owning a home is financially wise or not depends on multiple things, all of which has been rehashed on /biz over and over again. Some of them including location, rental prices, mortgage rates, age, employment prospects, etc
Currently my point of view is no, I'd rather take my 20% down-payment and put it into riskier investments... I guess this will change as I get older but I don't see a problem with renting a top-tier town-home for $900 where everything is taken care of for me so I can focus on growing my investments.
Hopefully by the time I desire a home I'll be able to buy one with cash, in full
The "best" thing to do is live way below your means (with family if possible) while working very hard, and then buying a house flat out or paying off your mortgage quickly.
If you gave minimum down payment and pay the minimum amount to your mortgage each month then you're stupid and won't go anywhere in life. That being said, the minimum payment on a mortgage is usually cheaper than renting.
Just try to have a high net worth and your life will be nice.
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