Yes, but low interest rates lead to homes being over valued. Resessions lead to them having less valued. We are at about a low of a real interest rate as we can get, and so if we were to transition from that to resession the change in value is risky. I honestly have no clue what equity OP would be bringing into the picture or what area he's buying in (and thus how expensive), but if he's bringing minimal equity into an expensive home (in some areas that is the option you have), that does have real risk. I 100% do not believe buying a home to not be worth it in all cases. I just want to counter the assumption it always makes sense and present the type of risk involved and how in many cases the risk to reward ratio really doesn't make sense (everyone's circumstance is different). There was I time I would have said the opposite, that paying rent is always stupid if you can avoid it. But current times make it less than 100% straight forward.