California renters could save $112,000 vs. owning over 5 years

Buzz: Renting in California, as costly as it is, is a far better deal today than being a homebuyer, saving an estimated $112,000 over the next five years for the typical tenant vs. the new owners of a mid-priced residence.

Fuzzy math: Numerous reasons exist to own your home, even in today’s tough market. But too many rent-vs.-buy calculations or homebuying affordability metrics don’t represent reality.

Source: My trusty spreadsheet reviewed rents and homeownership costs in 50 big metro areas across the nation compiled by Zillow — including a half-dozen in California. The goal was to find the true cost of the roof above one’s head in a span

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