If my husband and I didn't have pets, we would be in an apt right now. Where we live, there are some very attractive units. Plus, they include amenities such as a pool and an exercise room--things we couldn't afford on our own.

A friend of mine used to move apts every year. She was single, lived in a big city, and there were new apartments being built all the time. So, she'd move to the next new complex and have a brand new space every year. I've seen some apartments offer a month free rent to move into one of their units.

Another point to consider, if you own a home and consider it an asset, is this: many people are acquiring home equity loans to do anything from pay off debt, to make home improvements like putting in a pool. I know people who have done this, and I also know a couple who got such a loan for a (gasp!) big screen tv. If someone is borrowing against their equity, up to the point that they owe 100% of their home's value, they obviously now have a larger house payment. So, I guess what I'm getting at is that yes, the homeowner's payments may not increase--if they don't get another loan. It seems so common to cash out the equity in one's home, or even refinance to get cash. If someone was going to treat their house as an asset, they would need to resist the temptation to borrow against the equity.