PropertyProf Blog

Editor: Stephen Clowney
Univ. of Arkansas, Fayetteville

Monday, November 28, 2011

Renting vs. Buying

The housing market remains in flux (to put it mildly), and many people who could afford to and have sufficient credit to purchase a house or condo are wondering if renting might be a better idea.  Answering that question depends upon a number of variables, including the local real estate submarket and the economics of the properties under consideration.  The New York Times has a tool that allows you to crunch the numbers and determine whether it is better to rent or buy a particular property.  It tells me that the townhouse I'm currently renting would only be better to buy if I stay there 13 years, even if I assume a mortgage rate of 4%. 

Tanya Marsh

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I feel as soon as the housing market goes up there will be a shift by having more buyers. At the moment many are becoming comfortable and sure that the renting situation is a safe choice for now. Rent has gone up a lot in the past 3 years while home values have dropped shown here infographic . More investors are taking advantages for extra income renting out.

Posted by: John Evan Miller | Dec 8, 2011 11:28:13 AM

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