01-23-2007, 12:48 PM
Apoc Wrote:.RJ Wrote:http://www.ginniemae.gov/rent_vs_buy/ren...ction=YPTH
What figures are you using here?
$2350 (rent at the new place)
$600000 (what the place next door was selling for)
5% (thats a stretch)
30 yr
6%
10 yrs
1%
1%
It gives the slight edge to buying, but if you were in that scenario and wanted/had to move inside of 5 years without a significant equity gain (i.e. the housing bubble) then you've got the potential to get hosed and lose a lot of money.