Monday, May 23, 2005
Renting is Better than Buying
One of the problems with renting, goes the conventional wisdom, is that, after taxes, it is more expensive to rent than to buy. However, right now, the housing bubble is turning conventional wisdom on it's head. The story linked in The Housing Bubble Blog asks "why buy a home when you can rent for half the cost? ... [W]ith home prices soaring and rents staying flat -- and with the Federal Reserve expressing concern last week over signs of a national housing bubble -- there may be some good economic reasons to consider renting instead of buying."