re: WSJ: Wall Street Has Spent Billions Buying Homes. A Crackdown Is Looming.

quote:

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Have you seen rent prices? Why does anyone think renting is cheap? Sure, buying isn’t cheap but renting isn’t cheaper.

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This is highly dependent on where you live.

Buying assumes (rules of thumb):
Mortgage
Insurance
Property Taxes
Maintenance
Repairs
PMI*
HOA Fees*

Eventually you break even and buying becomes cheaper, but in some cases this could take 9-15 years, and this isn't 1986 anymore. I'd be hesitant to buy a nice home and fork $75k savings down in an area where I wasn't sure I'd be able to find stable employment for the next 3 decades.

Let's not forget the headache of home ownership, which people who rent don't really get until you have a house. If you like it, that's great. But if you aren't handy and don't have the willingness to learn, it can be a real pain in the arse.

* - Not always applicable