I don't need another finance/money management lecture Fosters. I crunched the numbers and it IS the better option, especially here in Texas. My mortgage is less than my rent at my apartment. You're right, I didn't "create" value...yet. But building equity is a hell of a lot better way to spend my money than rent. THAT is where the value is created (in addition to the incentives and hardball negotiating that made the house one hell of a deal). And 5 years from now, I will have bought the house 5 years ago, though it won't make a huge difference given that the real estate market in Texas is fairly flat. I don't plan on selling it if I move, it will be rented out, becoming a source of cash flow which IS an asset.