4 ms·
In the US, median homeowner tenure is about 12 years. If the local price-to-rent ratio is high, (greater NYC metro for example) then you may have to stay 20 yea
by 0x59 5mo ago
In the US, median homeowner tenure is about 12 years. If the local price-to-rent ratio is high, (greater NYC metro for example) then you may have to stay 20 years to come out ahead financially. In a case like that, renting can be a very attractive strategy for building wealth.
- aidenn0 5mo agoIt's more complicated than that. If you sell-to-buy then the tenure only affects the costs related to the purchase itself. I suspect many homeowners live in a house they own for much more than 20 years. I've owned since 2007, but my mean tenure is less than 12 years since I moved.