The chapter discusses the factors influencing the decision to rent or buy a house, considering the length of time one plans to stay. It explores the financial benefits of buying a home if one plans to live there for an extended period, while highlighting the potential losses in a short-term ownership. Ultimately, the chapter emphasizes the importance of considering long-term plans when deciding whether to rent or buy.
For many millennials, buying a home has become almost entirely out of reach. Average 30-year mortgage rates are hovering around 7 percent — the highest they’ve been since 2007 — largely because of the Federal Reserve’s efforts to tame inflation.
David Leonhardt, a senior writer for The New York Times, discusses whether it is time to change how we think about buying vs. renting.
Guest: David Leonhardt, a senior writer for The New York Times. He writes The Morning, The Times’s flagship daily newsletter, and also writes for Sunday Review.
Background reading:
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