COVID-19, or at least the political mishandling of it, shows why the latter might not be such a good idea for many retirees. Now, they're going to penalize people for renting. Very glad we purchased a house, although for us that was probably going to be the plan anyway.
I see that advice given all the time. When we moved to Arizona we immediately bought our house. Renting for a year would have cost us about $18,000, which would have been money down the drain. Not to mention the cost of moving again. And the increase in the price of houses. We did move back to Alaska 16 months later, but kept the house as a winter house. Now we're considering selling it. But we're going to make out quite well, as it has nearly doubled in value since we bought it six years ago. As far as I'm concerned, renting is what you do when you're in between houses.
“COVID-19 ... shows why [owning a house] might not be such a good idea for many retirees.”
Why’s that? Is it because a lot of people want to move from where they’re now living?