After the housing market crashed in 2008, the most prevalent question that housing market experts and economist have been asked is "is it better to rent or buy?" Economist at Capital Economics note that for the first time in three decades, median monthly mortgage payments is more or less the same as median rental payments. Hence, it may be better to rent to avoid the overhead cost of down payments and closing costs that come with buying a house.
See Catherine Rampell, "Rent vs. Buy" The New York Times (October 13, 2011).
Posted by Marc Tan, Associate Editor, Wealth Strategies Journal.
Leave a comment