Long-Term Homeowners See Growing Investment Benefits

It now takes about 15 years to save for a down payment and break even financially on buying versus renting, up from 11 years in 2019, due to a national housing shortage. Breakeven times vary widely, with Rust Belt cities around 11 years and West Coast metros up to nearly 50 years. Starter homes reduce breakeven to 7.2 years but are less appealing due to repair costs and high prices, often exceeding $1 million in many cities.