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nieceandtows

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Housing market affordability is so bad that Zillow says it will take you 13.5 years to break even on a purchase from July onward (finance.yahoo.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 11 months ago

PS. I agree. Although generally people aren't renting unless they are making a profit off of it. So if you have the ability to and it's not a 100% awful time to buy, buying may save you that profit. But there a huge benefits to renting. And to owning. And huge drawbacks for both.

Generally, rents should be about equal to cost of owning... Because if one was much cheaper or much more expensive everyone would pick the other.

Another point here- if renting is cheaper and you invest the difference you're still building your equity in a potentially far more diversified safe way.

(Although I want to buy simply because a mortgage is a more predictable cost than rent!)