CBC interviewed Tsur Somerville, the director of UBC’s Centre for Urban Economics and Real Estate, for a story on the “Millennial Revolution” movement.
The founders of the site encourage young people not to buy a home on a path to early retirement.
Somerville said on average, homebuyers and renters can reach equal financial success. He says renters only do well if they’re disciplined investors.
“It’s hard to be that disciplined,” Somerville said. He said one benefit of home ownership is “the mortgage payment forces you to be disciplined. Otherwise, the bank kicks you out.”
The story also appeared on Yahoo Finance.
