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Originally Posted by stacey
No you were bang on. Who in their right mind would rent if it was cheaper to own? That is the definition of throwing money away and you can "flower" it up with presonal choices ect. all you want
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You make it sound like it's just a choice to rent vs buy. Like Red said
Quote:
Originally Posted by Red
In the past few years the banks with the help of our government enabled people that would normally not be able to buy. That's what fueled this bubble.
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Only recently has it been that pretty much any idiot can walk into the bank and get a mortgage, because they buy taxpayer backed insurance, so there's next to zero risk for the bank issuing the loan. Normally people had to save a 20-25% down payment before they could even think about buying a place. Try doing that at today's prices while paying rent at the same time.