Listeners Respond: Renting vs. Buying

Wednesday, August 11, 2010

The poor economy means it's a good time to buy a house, but it also means that fewer people can actually afford this kind of investment. Yesterday, Takeaway contributor, Beth Kobliner outlined the pros and cons of house ownership in a shaky economy, and listeners responded.

Payam from Providence, Rhode Island wrote on our website:

"People shouldn't be lulled into a false sense of security, thinking that because a mortgage may be cheaper than rent that they can afford to buy a house. Renting is easier until you are financially set. Recession or not."

Produced by:

Amanda Magnus

Comments [1]

Katia

Sure, the *mortgage payment* may be cheaper than rent...until the roof or furnace or water heater needs replacing, or the utility bills come (such as higher heating/cooling costs for a larger space), or the lawn maintenance needs doing, or the basement leaks, or the cabinets or flooring starts looking mangy, or the carpet is worn, or the driveway needs re-graveling/re-paving, or the plumbing goes, or any of the million other things that can go wrong with a house and need fixing, usually to the tune of hundreds or thousands of dollars.

I am very glad to rent.

Aug. 11 2010 09:49 PM

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