Is It Better To Rent Or To Buy?

When it comes to real estate, the question "is it better to rent or to buy" always comes up. According to an article on SmartMoney.com, "THINGS BEING EQUAL it's almost always better to own your home rather than to rent."

Owning a home may not be an option in some of the so-called "Real Estate Bubble Proof" markets in the United States (e.g. San Francisco, Los Angeles, New York). After all, it is difficult to come up with several thousand dollars on a mortgage for a one bedroom condo when you're only making several thousand dollars a month.

This has lead many people to move from these areas to more affordable parts of the country where the prospect of ownership may in fact be more of a reality.

So ultimately, the answer to the question is - Yes, it is better to own your own real estate. You build equity over time. However, the ability to own depends on several factors - Namely your income and the real estate market in the area in which you live.