Contributed by prospect | May 22, 2005 06:09 PM PST
From the SF chronicle, here are yet more Rent vs Own stories.
http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/05/22/REGEJCSG8L1.DTL
The interesting tidbit is the approximate rent vs. own breakeven point on their hypothetical example. Renting was assumed to cost 55% of owning. The article says that it takes a home appreciation of just five percent per year for three years to make buying the better option.
I just have to say that it sounds a bit on the low side.
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