There's a reason that people pay 3-4x as much to live in Manhattan, but it isn't to get better houses. Just 43% of Germans own at all. Renting can be better than owning, especially in major metro areas, but owning comes with benefits too --- like being able to customize.
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Let's not blithely discount the judgment of all the people who pay twice as much for the same house elsewhere.
There's a reason that people pay 3-4x as much to live in Manhattan, but it isn't to get better houses. Just 43% of Germans own at all. Renting can be better than owning, especially in major metro areas, but owning comes with benefits too --- like being able to customize.
Yes, there are many factors to consider. For instance, the average European probably enjoys much better weather than the average Mississippian.