Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Renting vs. Buying in 2012
If the media has you confused as to whether you should buy or rent you may want to read Liz Davidson’s Forbes article about the subject. The Next Mortgage Crisis. Davidson, the CEO of financial education company Financial Finesse, argues that renters set themselves up for financial failure in retirement:
“Today, there’s another mortgage crisis in the works — that is, NOT having one — choosing to rent when you can afford to buy; choosing to forgo building equity in a home as a major source of retirement security — something that may be more necessary now than ever before with a soft stock market and low interest rates.”

Her cautionary tale compares the consumer who buys a $300,000 home and has a $1,500 monthly mortgage payment with the consumer who rents.
“If rents rise at the pace of current inflation (3.2% a year) the renter will pay $900,000 for housing over 30 years, while the home owner will pay $540,000 because his payment continues to be $1,500 a month.
If his house appreciates 1% a year, the home owner heads into retirement with $100,000 in equity in addition to the $300,000 he paid for his house. The home owner ... more

__________________________________________________
Are you on The Rain? Grow Your Network!