You Are Paying a Mortgage Whether You Rent or Own
I saw this post on KCMBlog.com about how no matter what you are making a housing payment:
As a recent paper from the Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
Interest rates and prices are projected to go up and in Fort Lauderdale and South Florida rents are increasing.