Final answer:
The shelter costs between owning and renting the same condominium can vary. Renting may have lower monthly expenses but possibly lower housing quality due to price ceilings. Owning involves higher initial costs with potential for equity and value appreciation.
Step-by-step explanation:
When it comes to the shelter costs associated with owning versus renting the same condominium, it largely depends on various factors such as mortgage rates, maintenance costs, property taxes, and market conditions. While renting can sometimes be less expensive on a monthly basis, renters may end up with lower quality housing if price ceilings are in place that prevent landlords from charging market rates, thus not incentivizing them to maintain properties well. In contrast, owning a condo could lead to higher initial costs, such as down payment and closing costs, but potentially provides the benefit of building equity and the possibility of the property increasing in value over time. Therefore, neither option is definitively more expensive without considering the specific context and long-term financial implications.