This is also part of the problem of home ownership (along with massive payments to fix things that, of course, will break at random). If anything goes sideways you are now anchored to that home. As a renter, I can leave when things get bad in that area. I'm not forced to stay because of "equity". Where I live is c0nsidered a "bad area" because its full of Black people (most of whom are working class and white collar, along with seniors who own their homes.)

As a side effect of this neighborhood reputation, my rent remains reasonable. The house is also paid off, so the landlord just wants someone who is reliable at paying every month. (I get a reduced rate for paying for minor repairs.) I've been in the house I'm in for about ten to 15 years now, and sort of "inherited" the rental after my Mom passed two years ago.

I don't have thousands of dollars for down payments and closing costs. I will never have thousands of dollars for that (and if I did I would use it for travel). I' middle aged, with no kids, and wouldn't even finish off paying for a home before I passed away. I have decided I'm in no hurry to buy a home.