Shark Tank's Barbara Corcoran speaks on buying vs. renting a home

Home ownership is still a pillar of the American Dream, but not everyone agrees it is the best way to build wealth.

Transcript

00:00There's been ongoing debate about renting versus buying, so from your perspective, which

00:04makes more financial sense?

00:06Always buying.

00:07Why do you want to pay somebody else for where you're living?

00:08You have to live somewhere, you might as well pay for it and own it yourself.

00:11But rental prices are flat.

00:13It's cheaper to rent an apartment or rent a home today than it is to buy one, so many

00:18people lured into that false security in a way of having a cheaper price.

00:22The best investment was my first studio apartment.

00:25I could barely afford it, I could barely scrape the money together, but if I hadn't bought

00:29that studio apartment, I would have never gotten in the market.

00:31I knew it wasn't my forever home, and I used that to parlay into a one bedroom, two bedroom,

00:35three bedroom, right now I live in a gorgeous penthouse.

00:38I don't think it would have been possible if I hadn't jumped in the market when I was

00:40very young.