said by Robrr:Financial Post had a good article on it recently and also included a nice customizable spreadsheet to help you see the differences.
The only issue with renting is that you need to be able to either live below your means (so you can continue to pay when you retire) or be willing to look for cheaper when you do. I've a couple of friends who rent and seem to spend a huge amount of money. If they aren't saving, where's their safety net?
I don't see my home as a retirement vehicle, but I do see it as a supplement. Of course, I've bought in a market that hasn't seen the rapid growth of others (just over 6% annually). I've certainly spent money on it, however, I've enjoyed the benefit of living here instead of an apartment. I'd have to pay 2x times to rent a comparable home where I'm living now.