This can be correct especially if you buy a fixer. Even just minor improvements can bust your bank account. It was tough for me to stick it out for 5 years before I could unload an aging townhome that was in need of more repairs. I made a good profit but suffered for 5 years. Looking back I would have been better off renting. I used credit cardsfor upkeep and repairs, then had to pay that off when I sold the house. Like most young people (it was my first home I owned but I was old when I got it) I was very naive about home ownership. Homes need a LOT of care. If you are not willing ordo not have the funds, living someplace where all that is someone else’s responsibility is so much easier.

Home ownership ain’t all that. Now that I’ve done it, I think it’s an albatross. I will be renting in retirement because I both hate and cannot afford to do property maintenance!