Renting has plenty of downsides, including fluctuating rents and general instability, but one of the biggest obstacles is that it is tough to build wealth.
The New York Times reports that many Americans are struggling to get affordable housing and are being forced to spend large portions of their income toward rent. Meanwhile, the best tax breaks are for homeowners: The mortgage-interest deduction, for example, can save owners thousands of dollars per year.
The inequality gap between the haves and have-nots continues to grow. The average homeowner has a net worth of $195,400, which is 36 times that of the average renter ($5,400).
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