I am still “away from the office”, but here is a very interesting New York Times article about buying versus renting a house I wanted to share – A Word of Advice During a Housing Slump: Rent. I’ll add more commentary after I fly back tomorrow, because we actually have been looking at some houses and neighborhoods in between family events while we are down here.
In particular, I enjoyed playing with this interactive Buy vs. Rent Calculator, because it shows you how sensitive these calculations are to your assumptions. A 1% difference in expected home price appreciation can make your expected “break-even” time vary by 5 years or more! (I am very skeptical that I or anyone else can predict the home appreciation rate in any specific area within 1% for the next several years.)
By Jonathan Ping | Real Estate | 4/12/07, 10:30am