01-26-2017, 11:50 AM
Timing also plays a factor. While owning a home (or a condo) may be better in the long term, sometimes the short term is more important. For example if you are taking a 1 year contract to work or to study, you may not want to bear the short term risk that values will drop. And even if you are, transaction fees associated with purchasing may make that more expensive than renting.