[RPKESQ]

Home ownership needs to be defined.

Home ownership is when you own a house free and clear. This is a very good thing. It is virtually an essential part of a comfortable retirement for most people.

Home ownership is not when you have a mortage. You are in reality, just "renting to own". Borrowing on any "equity" on something you don't really own is the height of stupidity from a financial POV.

Home values have remained constant as a percentage of income in the US since at least 1880. In Europe the home sales records go back much further. In Amsterdam, home values have remained constant since the 1600's as a percentage of income.

Homes are extremely poor investments. But they are extremly valuable as bringing financial stability to you long term.

Buy the smallest house you can get by with. Pay cash for as much as you can, take out the smallest mortage possible. Pay your mortage off as soon as possible. Now you own the home.