Is It Better to Buy or Rent? - New York Times Very useful calculator here, although it's pretty important to note that the settings are biased heavily towards buyers, at least in the context of the NY market (and it is the NYTimes). The investment return is set at just 5% which is essentially a bond only investment, and there are $0 condo/co-op fees! Set realistically and buying a home looks retarded without even factoring in the cost of personal illiquidity one takes on by owning. Retarded that is unless one thinks housing prices will just go up faster than inflation forever...
Posted by William Blaze at February 15, 2008 04:54 AM