Rent vs. Buy
by Tom on May 28, 2008
in Uncategorized
David Leonhardt of the New York Times has a good article that all Realtors should know about. It addresses the rent vs. buy dilemma from a factual monetary angle, but also looks at it from the standpoint of the intangibles that have many of us spending more to live than we NEED to because we want to be able to:
Paint the bedroom pink
Cut down the tree in the back yard
_________ (fill in the blank).
He ended up buying even though:
1. He admits the market probably hasn’t bottomed and he’s okay with that.
2. He knows that he’s going to lose money in the short term (and the intangible benefits outweigh that).
Food for thought and food for discussion with clients.
What do you think?
