Ceteris paribus is the first Latin phrase I learned the first day of Econ 101. 21 years later, I still remember the professor who said it.
It might cost the same to rent or own, but it assumes you have the income to rent, or you can invest the rent money if you didn’t live in the house. If you have no income or are too old or sick to work, then you certainly can’t pay the rent.
The house below has a property tax basis of $89,742. That means that they pay $897/year to live a La Jolla. It’s hardly possible to ignore taxes.
