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Fun little calulator in NY Times

 
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PostPosted: Thu Apr 12, 2007 12:36 pm GMT    Post subject: Fun little calulator in NY Times Reply with quote

Is Renting or Buying better?

Allows you to play with the assumptions and configure quite a few parameters in buying or renting.
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PostPosted: Fri Apr 13, 2007 12:36 am GMT    Post subject: Re: Fun little calulator in NY Times Reply with quote

It says if I buy a house inside the 128 loop, I will break even in 2027, assuming a 2% appreciation in home values (don't laugh) from now onwards every year.

Guest wrote:
Is Renting or Buying better?

Allows you to play with the assumptions and configure quite a few parameters in buying or renting.
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Guest






PostPosted: Fri Apr 13, 2007 1:20 am GMT    Post subject: Reply with quote

I suspect that this housing downturn will resemble more like Houston during the mid-80s so after 15 years, one'll break even which means that over 30 years, it'll probably average out to 1% appreciation per annum.

That means that rent will have to increase 5.5% per year to break even by the end of a 30 yr mortgage.
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AgentGrn



Joined: 28 Sep 2006
Posts: 82

PostPosted: Sat Apr 14, 2007 2:05 am GMT    Post subject: Reply with quote

Rent won't increase 5.5% a year though ... not as the population exodus out of MA continues. (Speaking of which ... have we gotten the recent numbers yet?)

That's one of the better calculators I've seen in awhile, particularly the visual component is where it gets compelling, and based on my own assumptions of it I found that it's far better to rent where I'm at while the insanity unwinds.
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