Thursday, August 6, 2009

Cost of Renting Significantly Cheaper Than Buying

That’s the conclusion in this new study from the Center for Economic and Policy Research,  “The Gains from Right to Rent,” by Dean Baker and Hye Jin Rho (July 2009).

This paper calculates savings from renting compared with owning a house purchased in 2006 or 2007 in 16 major metropolitan areas. (The appendix includes calculations for 100 cities, including these 16.) The analysis calculates the savings both before- and after-tax, allowing readers to see the impact on ownership costs of the mortgage interest and property tax deductions.


Read more.

Also see: NMHC Quarterly Survey of Apartment Market Conditions

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