re: The debate continues: Renting vs. buying

Rob — Fri, 16 Nov 2007 14:13:43 GMT

I appreciate the link to my post in defense of home ownership. Certainly the decision whether to rent or buy is an individual one, and some will be better off renting while others better off buying. It does seem, though, that the shift toward favoring renting has coincided with the market decline, which should actually encourage buying not renting. I've often thought about selling my home, becoming debt free, and renting. The reality for me, though, is that this would not make me more financially free than I am now (I'd still have to pay rent), and I think it would make me poorer in the long run. But the debate on this topic is important and worthwhile.

re: The debate continues: Renting vs. buying

Millionaire Mommy Next Door — Fri, 16 Nov 2007 05:59:33 GMT

Thanks for linking to my rent vs buy discussions. It's been an interesting debate! I've heard said that the "New" American Dream is time, not stuff. Yes, for me anyway, financial freedom makes me happier than whether I pay rent payments or mortgage payments. In today's real estate market, renting affords my family freedom.