Daniel, I agree that most people would spend the savings and not invest it. However, there’s something to be said about lifestyle. Living is about enjoying life and having what you want.
Was just talking to a friend earlier about his very subject. Today, $3,000/mo would rent a nice house in La Jolla or buy a mediocre house in Mira Mesa (Interest only, taxes and HOA). Why not enjoy where you live and let the owner subsidize your lifestyle? Or you can live in a rental house in Mira Mesa (same as you would buy) for $2,000/month then use the extra money to buy a Porsche. Then wait until the cost of buying is the same or lower than renting.
Even if you don’t save the money from renting, you still come out ahead lifestyle wise.
