Is it better to Buy or Rent?

[Krandall]

Pretty interesting:

http://www.nytimes.com/interactive/business/buy-rent-calculator.html

[socalrappy700]

Sooner or later buying comes out to be better.  And if you have a standard 30 year loan and make two extra payments a year (use your tax return) you can pay off the house in 10 and be debt free.

[Mad Dog]

Assuming I buy a cheap house, and magically come up with a 20% down payment I don't have, it will still be 8 years for me ONLY if housing prices rise 4% per year.  If they raise less than 4% Buying is NEVER better for me (at least on the 30 years they go out to).



Handy tool though, and one I will probably use if/when I actually find a place I'd be interested in.  Thanks.

[Magz]

verry intresting................
I always think it is better to buy...........than rent....

[Peelz]

if it has wheels on it, buy it.

[Magz]

if it has wheels on it, buy it.

then pimp it out with 20's and a sound system.

[Hefe]

24' s FTMFW!

[Headrope]

It might not always be the best way to go but feels good knowing I actually own most of what I've got.

I sacrifice too much to spend my paycheck on something someone else owns.

[Mad Dog]

You say potato I say potato....buying a house is just renting it from the bank, only with a lot more fine print.  Aside from upkeep and maintanance and property taxes I avoid I don't have to worry about the housing market taking a dive And leaving me upside down on a mortgage that I'm stuck with unless I can find some other poor sucker to take on the burden and hope I can cover what's left outstanding.

I have no problem with home ownership, in fact I think it's great.  But Its not a moral absolute and I don't think it's a choice someone should be judged upon.  Not directed to anyone here just jumping on the soap box for a moment.   

[Peelz]

You say potato I say potato....buying a house is just renting it from the bank, only with a lot more fine print.  Aside from upkeep and maintanance and property taxes I avoid I don't have to worry about the housing market taking a dive And leaving me upside down on a mortgage that I'm stuck with unless I can find some other poor sucker to take on the burden and hope I can cover what's left outstanding.

I have no problem with home ownership, in fact I think it's great.  But Its not a moral absolute  and I don't think it's a choice someone should be judged upon  Not directed to anyone here just jumping on the soap box for a moment.   

I agree MD.

[Hefe]

MD... you rent.... ERMAHGERD.. you LOSER!!!!

did I judge enough?

[Mad Dog]

MD... you rent.... ERMAHGERD.. you LOSER!!!!

did I judge enough?

Sorry I can't feel too bad about what someone with a YFZ says.

[Peelz]

MD... you rent.... ERMAHGERD.. you LOSER!!!!

did I judge enough?

Sorry I can't feel too bad about what someone with a YFZ says.

no judgements here mr 660 loser.

[Hefe]

it's a goddam YFZ-R dammit!

[ctateusa]

 

I feel for you guys been in my house for 7 years, finally all the interest is paid off.  I watched the market go to where my house was over 30k more than what I paid for it and now its probably only worth about 10k over what I paid for it. :'(