Thu 12 Apr 2007 – 13.31
From The New York Times comes a cool little web-based calculator to determine whether it’s better economically to rent or to buy. Most people would say it’s a no brainer - buy, but depending on the rates and the growth and all that, it may not be the case. There was an article a while back in the Times saying how real estate in New York and San Fran was in fact overpriced and it was mathematically better to rent.
Unfortunately, the sad truth is that most New Yorkers can’t afford to buy so they don’t have a choice.
posted by Scott in personal finance, real estate.
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