I really like this analysis. Considering this is written for america, a lot of these points somewhat apply to germany. Over here homeownership is pretty difficult. I put that decision away until I'm 35 or 40 and absolutely have to stay in one place because of kids and so on. I feel like I have more psychological safety when I rent and can move away whenever I want to, have a pile of cash and investments that pay the rent for a decade. I can't wrap my head around pulling most of your savings into a loan and then paying more or equal monthly than what you would pay for rent...

I feel like renting your first 1-3 flats in different cities is a valuable learning experience. You will learn where you want to live, what is important in a flat, its layout and its utilities and materials. It will save you a ton of money longterm if you know how thick the walls, well isolated the windows, locality of things and many other facets have to be...

Is Germany more like the US? In the Netherlands, before 2020, the cost of getting the loan was negligible. For a while earlier, it was zero - all transaction and notary costs could be included in the mortage. You could literally buy a house with €0 in your bank account, as long as you had the necessary income.

These days it's not so easy, prices have risen by 50%+, but you still pay less on a mortage than the equivalent rent, by a large margin. Renting (if you can buy) is pretty much throwing your money away.