Exploding Myths about Home Ownership and Renting

A New York Times analysis comparing the costs and benefits of owning versus renting a home turned up surprising results.

1 minute read

September 26, 2005, 10:00 AM PDT

By Abhijeet Chavan @http://twitter.com/legalaidtech


"After five years in which rents have barely budged while house prices in New York, Washington, Los Angeles and elsewhere have doubled, renting has become a surprisingly smart option for many people who never would have considered it before....

There are obviously benefits to home ownership... But the calculation can look quite different for those who are considering a move anyway or who do not yet own a home...renters in boom markets...should know that their choice has as powerful an economic rationale as buying does right now...when owning is more expensive every month, buyers are betting entirely on price appreciation...The single biggest misconception about home ownership, some brokers and economists say, might revolve around tax deductions...

Owning a home today is more expensive than renting in much of the Northeast, Florida, and California. Only if prices rise well above their already lofty levels will home ownership turn out to be the good deal it is widely assumed to be."

Thanks to Anne Hersch

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Red 1972 Ford Pinto with black racing stripes on display with man sitting in driver's seat.

Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto

The Tesla Cybertruck was recalled seven times last year.

July 2, 2025 - Mother Jones

Close-up of park ranger in green jacket and khaki hat looking out at Bryce Canyon National Park red rock formations.

National Parks Layoffs Will Cause Communities to Lose Billions

Thousands of essential park workers were laid off this week, just before the busy spring break season.

February 18, 2025 - National Parks Traveler

Paved walking path next to canal in The Woodlands, Texas with office buildings in background.

Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50

A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.

February 19, 2025 - Greg Flisram

Screenshot of shade map of Buffalo, New York with legend.

Test News Post 1

This is a summary

0 seconds ago - 2TheAdvocate.com

Red 1972 Ford Pinto with black racing stripes on display with man sitting in driver's seat.

Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto

The Tesla Cybertruck was recalled seven times last year.

18 minutes ago - Mother Jones

test alt text

Test News Headline 46

Test for the image on the front page.

March 5 - Cleantech blog