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Those numbers assume you're planning on keeping it for 30 years, which skews the numbers well in favor of buying. I have coworkers in their early 30's who are
by e28eta 11y ago
Those numbers assume you're planning on keeping it for 30 years, which skews the numbers well in favor of buying.
I have coworkers in their early 30's who are already on their second house in the last 5 years. I haven't asked if they timed the market well and came out ahead, or if they regret the first house.
Edit: http://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html http://www.nytimes.com/interactive/2014/upshot/buy-rent-calc...
- nandemo 11y agoImpossible to say for sure without seeing the exact methodology and the data, but there are probably many other issues with this "study". * taking data for the past year (or for a few recent years) and extrapolating it to 30 years, instead of actually getting the data for the last 30 years * hindsight bias: 30 years ago you didn't know whether it would be better to buy a house in San Francisco or Detroit. * comparing returns on a risky, leveraged investment (buying a house) with returns on a low risk investment ("interest earned on any money renters saved").