No one has yet pointed out the mind boggling incompetence of the financial planner. To calculate the actual difference between buying and renting, any financial planner worth their salt would have taken into account the opportunity cost of sinking all that money into a mortgage as opposed to investing it in low-cost ETFs or blue chip dividend paying stocks.

When this is the kind of financial advice dispensed to a majority of Canadians who can't tell an ETF from a hole in the ground it's no wonder we've become a cesspool of mortgage debt and housing bubble despair.