Diogenes the Cynic was once asked by one of his students whether a man should buy or rent. His reply was typical Diogenes, but still unexpected, “Whichever he chooses, he shall regret it.” And that is the quagmire in which Americans currently finding themselves. A critical housing shortage is rapidly taking hold across the country. It’s a vicious cycle: Rents are rising because people are renting for longer, and they are renting for longer because they are having a hard time finding another home they can afford. Meanwhile, home valuations have rendered ownership out of reach for all but the wealthy and upper middle-classes living the rest with no choice other than to rent. Unlike the eccentric and ascetic Greek philosopher who was content to live in a weather-beaten tub, the average American has to pay through his nose for a place to lay his head. The national average […]