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

→ Continue reading at Silicon Valley

More from author

Related posts

Advertisment

Latest posts

Pac-12 survival guide: The strategic merits of an alliance (or merger) with the Big 12

Welcome to the sixth installment in a Hotline series on the future of the Pac-12. Links to previous articles are below … Eleven...

Bay Area average gas price falls to $6.14 a gallon

The average U.S. price of regular-grade gasoline plunged 19 cents over the past two weeks to $4.86 per gallon.Industry analyst Trilby Lundberg of the...

NASA: A look at the new space telescope that should be sending images to Earth soon

Let’s see what’s out thereNASA’s James Webb Space Telescope is the world’s largest and most complex in history and is expected to send images...