Housing market again, again

[jay66uk]

Are you still saying renting is better than buying?

If you are, you're a mug.

Paying for someone elses mortgage all your life.

I am saying that renting *now* is better than buying *now*.

The "dead money" thing is entirely spurious, though. Over the lifetime of a mortgage you pay roughly the original amount borrowed in interest. That is dead money. I could invest the difference between renting my house and buying it (roughly £300 a month at the moment) and, after 25 years, walk away with an asset just as valuable as the house.

(Except I don't have that £300 a month so I couldn't afford to buy at the moment anyway.)

The Economist doesn't share your view...

http://www.economist.com/world/britain/ ... d=11848600