I think it's past time for another Stupid Questions thread, so here we go.
This thread is for asking any questions that might seem obvious, tangential, silly or what-have-you. Please respect people trying to fix any ignorance they might have, rather than mocking that ignorance.
What are the arguments for/against owning a house in a given city, vs eg renting, travelling between multiple cities/couch surfing, and other possible ways of living?
Pro: long-term stability for oneself or the family, if you have one, more control over your living space, real estate is potentially a good (and a more disciplined) investment, mortgage interest tax deduction (in the US).
Con: flip-sides: tied to a specific area, illiquidity of your capital, being forced to sell or rent out, possibly at a loss, if you cannot afford to pay the mortgage or have to move for other reasons.
The standard rule of thumb "buy a place when preparing to start a family" probably still works 80% of the time.