Rent or Buy a Home?
The crisis in the housing market provides an opportunity for consumers looking to snap up a bargain home. But the economy is still in dangerous territory, so many consumers may not have the financial security needed to buy a home.
Home ownership has long been viewed as an integral part of the American dream. After all, the equity you gain in your home can provide a strong platform to further your financial goals.
However, the heady days of home values doubling in 10 years are gone. In fact, median home prices nationwide are down 6.3% from last year, according to recent data from the National Association of Realtors, and more than 20% in parts of Michigan, California and Florida.
Gone, too, is the assumption that if you can afford a home, it must be a good investment.In order to determine if it's the right time to buy, you must weigh a number of factors. Your financial outlook for homeownership rests on the break-even point -- how long must you live in a home for the equity gains to outweigh the higher costs of home ownership.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV