Interesting article supporting the thesis that it is better to rent than to own.
A year ago, had one decided to roll the dice and jump in the housng market in
Southern California one would have woke up yesterday to learn that your little
home has appreciated 20-27% in some areas. While your more fiscally conservative
twin found his rent increasing. and now to make the move, his 20% down payment
increased by 20-27%. Life isn't fair and life is about taking educated
gambles. With the economy turning around the smoking real estate deals from the
last two-three years are harder to find. Flipping homes in the Las Vegas or
Phoenix area might still be a good use of ones money.
Big supporter of the five years or more point.
The writer could have simply stated that if you intend to live a 20-something
lifestyle, then rent. This reminds me of my 20's.