I have a friend who has an apartment in a senior citizen community in S.C. She's in her mid 80's and pays $3500 a month. She complains about the food all the time, doesn't eat it, but is still charged for it. She sold a brand new home she had built in northern South Carolina and moved into the community about 4-5 years ago. Her rent goes up every year.
I never owned a home. I raised two sons by myself in apartments. By the time I could have afforded a home, they were getting ready to leave the nest. I'll be 78 in August, and I'm glad now at my old age that I don't own one with my kids ending up having to get rid of it when I die, because neither of them would want to own a home themselves.
I have a two bedroom apartment with living room, dining/kitchen area, central air, one bathroom, two large walk in closets, a double closet in the second bedroom, a small pantry in the hall, dishwasher, garbage disposal, stove, fridge, water and trash pickup free. Pay my own internet, gas and electric. I've been here 24 years or more. My rent is $570.00 a month. The highest they have ever raised my rent was $25 dollars, which was last year. Prior to that, my rent went up $10 or $15 a month every two years or so. I'll never move from here. They'll have to carry me out.
Unpopular position, but I agree. A house is an asset until you try to sell it. Cheaper to rent, invest the difference.