Generally speaking, is it as expensive to rent a modest apartment as it is to pay for a mortgage on a modest condo/house (depending on the area)? If that is the case, why don’t more people own property? I find it hard to believe that so many want the “convenience” of an apartment when real property seems much more flexible in that it more or less appreciates.
Secondly, what about areas which had/have rent control? What has this done to the price of non-rental property in the area?