Renting vs. Owning (part 1 of 2)

As renters, we've heard our share of "you're throwing away your money each year!" or "You pay how much? That's our mortgage!" We've been watching sales listings for years, but it hasn't been in the cards. It's easy to think that owning our own place would give us a magical sense of financial stability.

Wise bread posted an article listing 6 myths about real estate. If you've heard that sage advice, "you can't go wrong with real estate," this article lists six reasons you can indeed go wrong, such as point one:

Bricks & Mortar are as Solid as it Gets
While technically this is true (a hammer will prove this fact, albeit leaving a bit of a mess in your living room), real estate is not to be considered a solid investment that is impervious to market fluctuations. You can lose money investing in property – a lot of it.

When buying isn't in our cards, it's good to hear a friend tell us "don't worry, renters... we still love you."

Around these parts, it's common to hear that "you can't go wrong with real estate in Manhattan." Come back tomorrow for some news on that point in part 2 of this post.