Originally Posted by KingOfJericho
That's actually a terrible analogy. When you lease a car, you are essentially paying down the expected depreciation of the vehicle. You can then purchase it for that predetermined figure or walk away. With a rented house, you have no such agreement and the value, in many cases, appreciates, but there is no agreement regarding a purchase at the end of your lease term. The value of a house does not decline due to age or use - the exact opposite occurs with a vehicle.
Fair point, maybe it was a bad analogy. I'm speaking generally here to make a point about not building equity by renting a house versus buying it, the same for leasing vs buying a car.