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Old 10-01-2008, 12:40 AM
 
191 posts, read 640,849 times
Reputation: 44

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Renting Makes More Financial Sense Than Homeownership - Yahoo! Real Estate







Stocks vs. Houses: Returns

Shares of businesses return 7% a year over long time periods. I'm subtracting for inflation, gradual price increases for everything from a can of beer to an ear exam. (After-inflation or "real" returns are the only ones that matter. The point of increasing wealth is to increase buying power, not numbers on an account statement.) Shares have been remarkably consistent over the past two centuries in their 7% real returns. In Jeremy Siegel's book, "Stocks for the Long Term," he finds that real returns averaged 7.0% over nearly seven decades ending 1870, then 6.6% through 1925 and then 6.9% through 2004.
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Old 10-01-2008, 12:45 AM
 
Location: southern california
59,985 posts, read 78,437,199 times
Reputation: 53819
i would not buy now, but renting long term is not smart. most of the wealthy, no all of the wealthy i know have done it thru real estate. very little selling mostly buying.
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Old 10-01-2008, 05:30 AM
 
Location: PA
1,032 posts, read 3,972,305 times
Reputation: 432
The market right now is crazy. However, I think if you are buying your first house and can afford what you buy, now would be a good time to buy.

Me, I like the tax breaks from having a mortgage
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Old 10-01-2008, 06:45 AM
 
12,870 posts, read 29,512,737 times
Reputation: 7438
The reason we would never rent again has nothing to do with money. I HATE moving and I wouldn't want to live in a place where we wouldn't be able to fix something if it was broken or worry about something spilling, etc. Moving with kids is four times worse. Another problem is finding a nice rental houses. All of the houses that I see for rent are on busy roads where I would never live.

Many of the people that move here are not buying their first home - I thought you had to use your equity when you sell one home to buy another or you get penalized. Am I wrong?
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Old 10-01-2008, 08:00 AM
 
4,123 posts, read 8,002,948 times
Reputation: 3687
Living in a room for 375 a month sharing a bathroom with a Puerto Rican woman down the hall is currrently working for me.
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