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that's like the least irresponsible purchase. even at a high interest rate, you are still paying on a principle that creates an asset with equity that increases your stable wealth. When you rent, all that money you pay just evaporates and you never see it again. A mortgage payment is almost always the better financial choice, unless you need to move frequently for work.
I merely meant that buying a house at a high interest rate is the irresponsible part. But yes, everything you say is true.
I'd argue even that being irresponsible. yeah high rates suck but you're still paying on an asset, not a black hole.
Also, mortgages can be refinanced if/when rates drop later.
I refinanced at 3% then did a HELOC to pay for a new roof. One of the best decisions I ever made