Part 2/12:
One of the critical blunders people make when deciding between renting and owning is simplifying the decision to a mere comparison of monthly costs. The monthly mortgage payment, often viewed as an expense, doesn't accurately represent the actual cost of living in a home. Mortgages are frequently perceived as a means to build wealth, but Felix argues that they can actually lead to an increase in housing costs over time, particularly when considering maintenance, property taxes, and depreciation.