There's another intangible benefit to owning if you know you're going to stay in the area long term -- you can't be forced out of your home.
Well, you can. The city decides to put in a new subway line and your house is where they want to build a station. Or (depending on your local laws) the other members of your strata corporation vote to sell the building to a developer who wants to tear it down and build a tower.
But sure, it's far less common for someone to be forced out of a home they own, and when it does happen there's typically years of notice.
Well, in that very obscure case, you are generally legally obligated to something like 110% of market value, so you can't really compare that to e.g. being thrown out because tony said so..
They're currently closing down one and moving one town respectively in my county. It doesn't matter if you own or rent here, not when there's ore in the ground.
Well, you can. The city decides to put in a new subway line and your house is where they want to build a station. Or (depending on your local laws) the other members of your strata corporation vote to sell the building to a developer who wants to tear it down and build a tower.
But sure, it's far less common for someone to be forced out of a home they own, and when it does happen there's typically years of notice.