Sunday, September 28, 2008

Renting Makes More Financial Sense Than Homeownership

I have something un-American to confess: I rent an apartment, despite having enough money to buy a house. I plan to keep renting for as long as I can. I'm not just holding out for better prices. Renting will make me richer.

I normally write about stocks for SmartMoney.com, but the boss asked me to explain to readers my reason for renting. Here goes: Businesses are great investments while houses are poor ones, so I'd rather rent the latter and own the former.

Stocks vs. Houses: Returns:

To Read More, Please, Visit: Jack Hough - Yahoo! Real Estate

Related Stories:

1) Should I buy or rent a property in Pune?
The Pune Real Estate calculator will assist you in comparing the cost of buying a real-estate property in Pune to the cost of renting a property in Pune. Read More:

2) Even if you own a house, you can claim HRA deductions
Leading up to the last date of filing tax returns (July 31), over the past few weeks, this column has been dealing with various issues related with the tax-filing process. Read More:

3) Why the secondary market for premium residential property in NCR has suddenly become very active?
Shabana Patni has been living in a premium condominium in Gurgaon, in the National Capital Region. As a senior manager in a leading IT-enabled services firm, the last thing she ever wanted to worry about was where to stay. She had found a secure, well-located condominium and had been staying there for over five years. But this year she got a jolt. Her rental contract was renewed at a price that was about 30% over what she had been paying. The reason — the rental market had zoomed as never before. Read More:

4) Indian real estate sector emerges as one of the biggest areas of personal investment
Another interesting aspect of real estate, which could help tremendously in personal finance is “rent discounting”. Read More:

5) Real States in Pune and IT Professionals
There is an another angle to it. It is the agent lobby. They have now started to work on anything beyond X is mine policy. Read More:

6) Why Renting is Better than Buying a Home: even in Pune, India!
When you rent, most people mistakenly assume the decision is made out of necessity, not rationality. Read More:

7) Pune real estate slowdown - the records of the stamp and registration office underline slowdown in Pune property market
While the conveyance deeds have remained static in the last three months, registrations by way of leave and license as also lease contracts have shown a steady rise. Read More:

8) The Subprime Meltdown and the Ownership Society
While homeownership is often desirable as a means for accumulating wealth and obtaining secure housing, it will not always be a good mechanism for either.
A serious housing policy should recognize that renting can be a better option for many Americans, especially for tens of millions of families with low and moderate incomes. Read More:

9) Pune needs more hostels
Escalation of real estate rates and the information technology boom has taken a toll on student’s accommodation in Pune. In a span of two years, the average rentals in Deccan area in the city have increased by 75-80 per cent. Read More:

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1) By subscribing for free to my Ravi Karandeekar's Pune Real Estate Investment Blog!

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1 comment:

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