I’ve been a homeowner for a little over 30 years. I have rented, but only for a very short period of time. Housing prices where I live have been going up 10%-15% each year for a while now.

As a current homeowner, I am very pleased that the house I bought 12 years ago is worth a lot more. On the downside, this does not bode well for my children. They are getting married and wanting to at some point enter the housing market.

While interest rates are at near record lows, houses are at record highs. People are maxing themselves out just to be able to afford a home. One % point up in the interest rate and many of these people would be in financial hardship.

The other option to owning a home is to rent something. The overall cost will be significantly lower than owning a home. You don’t have all the headaches of maintaining a home.

Now I’m not here to convince you to rent or to buy. But I did want to point out one thing that is making me think. Is there a pressure, conscience or otherwise to purchase a home in North America?

Is the long-term equity the big payoff. Most of the time it is your kids who will enjoy that windfall. Maybe you like the thought of putting some distance between you and your neighbour. Even if it is just a fence and not a wall.

Whatever the reason I think I need to put some more thought into this. It is intriguing being a homeowner and thinking it is perfectly natural. Maybe there is more to renting and I’m just not seeing it. It is interesting to think about though.