Our society puts alot of emphasis on 'home ownership' and negative stigma on 'renting'. According to Investopedia, it may not be as clean cut an equation and has much to do with the rate at which a person plans to be moving or if they plan to commit to decades in the same spot.

Whether to rent or to buy the place in which you live is a major decision. It doesn’t just affect how much money you have left at the end of the month; it also affects your lifestyle and the size of the savings you accumulate over the years. Every day, people buy homes when financially they’d be better off renting, because it’s important to them to have a place to put down roots and because they see owning a home as an investment that can grow and as a source of tax deductions. Similarly, people rent all the time for the flexibility and minimal responsibility it offers, even though they’d amass a larger net worth over time if they bought a place.

Of the two options, the bias often veers toward ownership: It's a big business for everyone from mortgage lenders to real estate agents to home improvement stores, and so we are bombarded with the message that being a homeowner is the key to happiness and part of the American dream. But owning isn’t universally better than renting, nor is renting always simpler than owning. Consider the pros and con





Read more: Pros and Cons of Renting vs. Owning a Home | Investopedia https://www.investopedia.com/articles/personal-finance/083115/renting-vs-owning-home-pros-and-cons.asp#ixzz5M2BQDULO


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Good topic M.H.

I cant really speak for my American friends, My grandparents has a condo in Florida they spend 6 months there.

I know if I was living in America I would own, because I own where I live in Canada, but our market is so different than yours.

We have amortizations and terms, If I'm not mistaken you have 15 and 30 year terms which is the same as your amortization.

You can write off your interest and we cant unless we have a line of credit on our home and use it for business, investment or education , we can write off the interest portion only.

Personally I don't think everyone should own a home particularly if you cant afford the downpayment and your credit sucks, that is why investors in real estate are crucial


Because of the pressure of the American Dream got a lot of people in trouble all those idiots that took real estate courses wanting to be the next Donald J.Trump but for residential

Below is the corrected URL for the article that msharmony cites.

Pros and Cons of Renting vs. Owning a Home | Investopedia http://www.investopedia.com/articles/personal-finance/083115/renting-vs-owning-home-pros-and-cons.asp#ixzz5M2BQDULO

Thank you for being my second pair of eyes Dodo

Accidental duplicate, locked, see other:
https://mingle2.com/topic/559041