Study Says It’s Cheaper to Buy Than Rent
I saw a story that's bound to gladden the heart of real estate agents everywhere. Apartment owners, I'm not so sure.
The story from AOL says it's cheaper in the long run to buy a home than to rent. In fact, the story says buying is 44 percent cheaper than renting, and it holds true in all of the 100 largest metro areas in the country. You read right - 44 percent cheaper.
Where Sioux Falls fits in the story doesn't say, but declining mortgage rates, I'm sure, have a lot to do with it.
Of course, many, many people who bought their homes at what turned out to be the wrong time are upside-down, and home ownership has driven many of them into bankruptcy.
I'm certainly no economist, but if we were deciding what to do, I would investigate further.