The National Multihousing Council recently published a study entitled: "Don't Buy The Myths – Renting Can be A Smart Investment."
Here's the bullet points. Check out the full study at http://www.nmhc.org/. As committed renters we support the industry's efforts to increase the nation's rental housing stock and promote the renting lifestyle.
Myth #1 I'll reduce my tax bill if I buy a home.
Myth #2 Paying rent is throwing away money. I could be building equity.
Myth #3 My mortgage payment will be less than my rent.
Myth #4 As an owner, my housing costs will remain constant. I won't have to worry about rent increases.
Myth #5 Investing in a house is a safe investment.
Myth #6 I can't afford not to buy with these low interest rates.
Myth #7 I know I'll make money on my house because I plan to stay there for at least five years.
Myth #8 Buying a house will force me to save and help build a nest egg for retirement.
Myth #9 I know buying is better for me because I used an on-line "Buy vs. Rent" calculator.
Now more than ever, renting makes sense!