Why Renting is Better than Buying

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Essay #: 066694
Total text length is 4,785 characters (approximately 3.3 pages).

Excerpts from the Paper

The beginning:
Why Renting is Better than Buying
Given the current economic climate, it is not only difficult for people who have bought homes in the past few years to keep up mortgage payments, but in many cases, their homes have been foreclosed by banks. There are more middle-class homeless people in America today than ever before. So, with limited resources, buying a house is more difficult than ever, not merely applying and being approved by banks and other financial institutions no longer willing to risk their money, but because the future is impossible to predict, the same mortgage crisis might continue for many years. The generations-old argument that renting leaves one with no ownership and therefore no equity is slowly fading in importance....
The end:
....., it seems to make more economic sense to rent an apartment rather than investing in a house, an investment that may not pay off. Given these major financial problems, the American dream of owning a home is now supplanted by a monthly rent check.
References:
Bayan, R. (2011): “How to choose between renting an
Apartment and buying a house” retrieved Feb. 25, 2011 on
www.ehow.com › ... › Rental Real Estate › Buy a House to Rent
Castaldo
, J. (2010): “Why buying a house is a bad investment”
Toronto: Canadian Business Mar 15, 2010. Vol. 83,
Iss
. 3
pg. 26 – 31
“Owning a house vs. renting an apartment: A cost analysis”
Community Housing Network retrieved Feb. 25, 2011 on
www.communityhousingnetwork.org/.../owningahousevsrentinganapartment.
htm
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