The future of space colonization – terraforming or space habitats?

The idea of terraforming Mars – aka “Earth’s Twin” – is a fascinating idea. Between melting the polar ice caps, slowly creating an atmosphere, and then engineering the environment to have foliage, rivers, and standing bodies of water, there’s enough there to inspire just about anyone! But just how long would such an endeavor take, what would it cost us, and is it really an effective use of our time and energy?