Is it Really Cheaper to Rent than Buy?

We all know that in the long run, owning a home is typically a sound investment. But, with home prices rising does it make sense to buy now? I started contemplating this question after a recent conversation with a friend. She and her husband purchased their three bedroom, two bathroom home in 2005, then sold it by short sale in 2010. They moved into a more spacious four bedroom, three bathroom rental in a nearby town. It had everything they wanted; lots of living space, a great school district, fantastic neighborhood, and an awesome location close to the city’s downtown.

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