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Americans Dig Deep, Buy Homes
Americans bought some houses last month, God bless 'em.
Existing US home sales, which've spent the
I understand the desire to own a home, however, at least in LA- the “rent vs. buy” analysis indicates that buying, instead of renting, is about twice as costly for the exact same house. Add in repairs/ replacements and consider the “lost income” on a down payment, and home ownership is more than twice as costly.
The “trick”, if one rents instead of buys, however, is to be disciplined enough to save the difference and not spend it.