How "Rent vs. Buy" Shifted in 2023
The Money with Katie Show
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The Cost of Leasing
The long term ramifications of buying conservatively will almost always trump renting luxuriously if you plan to stay in the same spot for many years. The intent with annualizing this number is to make sure you could fulfill that lease even if you were to experience a total loss of income. If you have $10,000 in cash savings and no other liquid assets, you may consider renting something less expensive or prioritizing building up that savings amount.
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