Major online realtor Trulia says it’s tall time to lift a risk but drinking the real estate Kool-Aid will only lead to financial heartacheToday’s 20-somethings and even those in their early 30s came of age in what may possess been the worst national real estate market on record since their grandparents were born. Now a major real estate ad company wants to persuade them that its tall time to lift a risk; that it’s time to walk absent from paying tall rents in some costly markets and pay tall prices to buy their own homes. There’s nothing wrong with the mathematics at the heart of the analysis by Trulia: the raw data show that it’s 23% cheaper for a millennial aged 25 to 34 to buy their own home than to rent, based on the fact that they might only be able to afford a 10% down payment and are likely to scamper every five years or so. Continue reading...
Source: theguardian.com