Construction costs are currently skyrocketing

Buying is better. Or do you think the landlord pays extra for you so that you can live cheaply?

If it’s a private landlord – mostly yes. But that’s not the relevant point. To name just one: "The landlord" has the property suitable for you in every situation. "You" usually do not.

I myself have not read it, but there is apparently a book by Kommer comparing Renting vs. Buying. He apparently concludes for long-term wealth investment that renting is significantly better than buying if the difference is sensibly invested, for example in ETFs.

However, it must be said that the perspective is of course somewhat biased, as Kommer is an advocate of the buy and hold strategy for ETF investments. Incidentally, the comparison of (cold) rent vs. installments is also nonsensical, since most home builders provide equity capital, which would generate returns as an investment.

I myself have not read it, but there is apparently a book by Kommer comparing renting vs. buying. He apparently concludes for long-term wealth building that renting is clearly better than buying if the difference is invested sensibly, for example in ETFs.

However, it must be said that the perspective is somewhat biased since Kommer is an advocate of the buy and hold strategy for ETF investments. Besides, the comparison of (cold) rent vs. mortgage payment is also nonsensical because most home builders bring in equity capital, which as an investment would generate returns.

I read that carefully - the problem is only that he also admits at the end of the book that the current low interest rate phase naturally turns the tables. In the last 30 years, the interest rate has fallen and only knows the direction north. We have also invested the difference between our current (very cheap) cold rent and the target repayment into ETFs. Works wonderfully. You just must not forget that it is not only about financial matters (and Kommer devotes a whole chapter to that) but also about lifestyle/design drive/hobby, etc.

It is not always just about "who has more wealth after 30 years" - but about everything together, not just one aspect. For us, the decisive thing is to combine both: And that results in an affordable house (ownership) that we will pay off over the next decades PLUS an amount X per month for liquid retirement provision. We feel most comfortable that way.

But I also know people who "lack" nothing living in rental housing - and put their entire savings into ETFs and rent, which is also okay. Then you still have to find a new place when the termination notice comes in, but you also have a nice sum to cover the increased rents. Flexibility is king then.

Or you do it like a friend of mine: lives in a very cheap large rental apartment with an old contract and rents out numerous properties himself. Best of two worlds - purely financially speaking.

Moreover, the comparison of (cold) rent vs. installment payment is also nonsensical, since most builders contribute equity capital, which would generate returns as an investment.

From my point of view, the most appropriate comparison here is cold rent (renting) with interest payment to the bank (bank), right?

In principle yes, but is right, the equity invested could be (much) better invested if you look at it purely financially. For me, however, ownership is not primarily an investment, but property security. In Berlin, as already said, you simply can't get an affordable rental apartment anymore.