That is the major advantage of home ownership. The cost of “rent” is fixed, or that is how it was for our grandparents.

My uncle once said his father brings in $1200 a month compared to his $3500 (Yes this was years ago), but his father is rich and he is poor. At the time my grandfather had a paid off home, three paid off cars, full medical benefits, and cash to spare.

My grandfather stayed in his house and paid it off, but today people move up every 7 years and refinance all the time. People no longer believe in paying off homes; they believe they should cash out there equity to buy Chinese products and vacations.