I've always considered rent as an expensive form of insurance.
Something major happens like the furnace going out mid winter, or a huge roof leak developing, or some other catastrophic event, or heck, even basic maintenance, It's not my problem, and my actual (dirt cheap) renter's insurance will take care of any damage.
$12,000 a year buys a lot of peace of mind. And honestly, unless I'm actually using my house as an investment rather than a place to live, equity is mostly meaningless to me.
Something major happens like the furnace going out mid winter, or a huge roof leak developing, or some other catastrophic event, or heck, even basic maintenance, It's not my problem, and my actual (dirt cheap) renter's insurance will take care of any damage.
$12,000 a year buys a lot of peace of mind. And honestly, unless I'm actually using my house as an investment rather than a place to live, equity is mostly meaningless to me.