Should I rent or own a condo?

I know that right now with the real estate market being as cheap as it's been in years, many people are turning to owning instead of renting. However, i've always rented because my psychology is what i'm paying monthly for rent is much cheaper than what I would be paying if I owned my condo, plus by... show more I know that right now with the real estate market being as cheap as it's been in years, many people are turning to owning instead of renting. However, i've always rented because my psychology is what i'm paying monthly for rent is much cheaper than what I would be paying if I owned my condo, plus by renting, I don't need to pay property taxes which would be A LOT of money for the area I live in. Than again, with owning, I would fully own it eventually.. though I would have to take out a bank loan and mortgage the place, and with what I would have to pay monthly in interest every month... in the end, i would be paying for the condo 2 times over, + taxes, + liability for any damages. I just don't know, WHat's better, renting or owning??? Thanks!!
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