Is Renting Your House a Great Wealth Building Strategy?

We’ve all heard the cliché that if you’re renting, you’re wasting your money. But is that true? Is it better to rent or buy?

 Home ownership used to be a hallmark of the American dream achieved. It showed that you were an adult and that you had “made it.” But that is no longer the case for many young people. Lots of them have decided it’s better to rent than buy.

Earlier this year, US homeownership rates fell to a 48 year low. For those under age 35, the rate of ownership is just 34.1%. That is about half the rate of overall homeownership in the US.

Clearly, Millennials either didn’t get the memo outlining the American dream or they disagree for various reasons that renting means throwing your money away.

Full Article Here

Show Notes

5 Year Adjustable Rate Mortgage:  This is the mortgage that Andrew is leaning towards.

I Will Teach You To Be Rich: A great personal finance book.

The Simple Dollar Book:   Long considered a PF classic.

Betterment: The easy way to invest.

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