For people that like to change out new cars every few years AND don’t put a lot of miles on their cars – leasing a car *can* be cheaper than buying. But if you plan to hold on for the long haul – buying makes more sense.
The same can be true in housing. If you think you might be relocating within 5 years, buying may not pencil out because of the costs of transactions. But if you plan to live in the house long term, and pay it off, then it makes sense to buy.
I have friends who live back east in big cities. (Philly and NYC). They do car shares because the cost of owning the car is too high – parking being a big factor. For the 2-3 times a week they need a car, they use the carshare. They all take public transit to work or work from home.
