I'm so glad to finally gotten over my prejudice to check out this slim volume that broke down a lot of salient information and hidden complexities ('implicit rent', anyone?). I mean, how could a book about the Canadian housing and rental market apply to my so-called-American life? Answer: far more than I'd guess. I walked past this book twice in the Cambridge Public Library before picking it up. He claims the reputation of home ownership as a wealth building strategy is unfounded and shows renters how to replace bricks-and-mortar with better investment opportunities.

Real estate analyst Alex Avery insists renting offers a simple, more affordable way to live, plus in Canada’s frenzied housing market, going month-to-month is dramatically lower risk. This one-size-fits-all advice ignores the reality of Canada’s housing market.įaced with expensive house prices in a near-zero interest rate world, it’s time Canadians heard the virtues of renting and seriously considered renting as an alternative to home ownership.

Real estate agents, mortgage brokers, family, friends, and even the government promote ownership as a safe, attractive, and sure-fire path to personal wealth. “Why rent when you can buy?” More than any other, this phrase captures the overwhelmingly unanimous promotion of home ownership to Canadians. Why be house poor when you can rent rich?

The Wealthy Renter by Alex Avery