How myopic is the following quote – from a study by The Urban Institute, cited initially in the NYT and debunked in the Ecomonitor.com article cited.
“If a person delayed the purchase of a home to age 40 instead of buying at age 30, that might result in a $42,000 loss in home equity by the time she reaches 60, given trends in wealth accumulation over the past few decades.”
Trends in wealth accumulation over the past few decades were driven by Boomers. Those days are gone. The party is over. The good ship Aloha has sailed.
Ecomonitor provides some solid rationale for renting, not buying, a home.