Homeownership vs. Renting: Weighing Financial Implications and Lifestyle Choices

Given the topic:

Homeownership vs. Renting: Weighing Financial Implications and Lifestyle Choices, write an essay with a minimum of 1500 words. 

This essay should be written based on research and must have data and evidence to back up the discussions/narratives. Please evolve any research and discussions in Canadian markets. Comparisons with the US and/or other countries are acceptable, but the main base should be Canada.
The goal of this essay is to communicate personal research and insights with others who may or may not understand the concepts of Personal Finance. 
APA style. References required. 

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