Kevin O'Leary Says Don't Even Think About Buying A Home If You're Single Or Have Just 1 Kid. But 2 Kids? 'That's When You'll Need A Safe Place' To Raise Them

Core Viewpoint - Kevin O'Leary advocates for renting over homeownership unless a family is actively being formed, emphasizing that homeownership is not a necessity for singles or couples without children [1][2][3] Group 1: Homeownership Perspective - O'Leary's two-question test for homeownership eligibility includes marital status and the presence of children, suggesting that only families with children should consider buying a home [2] - He argues that the traditional view of homeownership as a wealth foundation is flawed, especially in a rising interest rate environment [3][4] Group 2: Market Conditions - O'Leary highlights the misconception that home values will continue to appreciate, citing a hypothetical scenario of a $200,000 home appreciating to $250,000 in a year as unrealistic in the current market [4] - Historical data shows that average home prices increased from approximately $260,000 in 2018 to over $386,000 in 2022, but have since leveled off to around $360,727 in 2025 [4] - Mortgage rates have risen from an average of 4.7% in 2018 to 6.29% today, increasing the cost of borrowing and monthly payments for homebuyers [5]