Thanks Jim, and yes, I agree that:

- There are people who own where they live and are great at money.

- There are people who own where they live and are terrible at money. These usually buy a home that's too expensive for their means.

- There are people who rent where they live and are great at money. I point out at least 7 circumstances where renting is preferred (e.g., you can't afford the down payment and/or can't get a mortgage at an acceptable rate). It's also possible that these people choose to rent despite realizing that it's worse for them financially, because they may have non-financial reasons that are more important to them.

- There are people who rent where they live and are terrible at money.