Zaida Patel, Realtor —– Blog Website

Is it better to rent or own?  It is a matter of opinion.  According to the New York Real Estate news, a professor UC Berkeley,  who did a case study said it is better to rent all the time.  “And not just from a practical standpoint; also from a financial one, Reuters reported.

The reason is that the carrying costs associated with homeownership, such as property taxes and renovations, often cause homeowners to fail to meet their other financial goals, the professor, Rich Arzaga, said.

Of course, there are critics of that logic.

“To state that owning a home is or isn’t a good investment is too simplistic,” said Jeffrey Rogers, president of Integra Realty Resources, a New York-based real estate appraisal firm. “It depends. In times of relatively higher rents, low home values, and low interest rates, it makes sense to own a home. But in a reverse market, it wouldn’t be economically feasible. Over time, those who purchase in down or flat markets with low interest rates come out ahead.”

click here on story: Reuters

The New York Times

Program will pay homeowners to sell at a loss
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes.  Now it will take a new approach: Paying some of them to leave.

To read the full story, please click here.