Emily Oster is an associate professor of economics at Brown University and answers readers’ letters in an advice column for Quartz. A recent letter asked a common question that many of us have, “Is it better to rent or to buy?”
Emily’s answer was a unique one, and worth sharing. Overall, she says, if the question is around finances, the answer is that it does not matter in the long run. You are likely to spend about the same amount of money buying or renting because the market will adjust over time and will not favor one or the other. And the old argument that owning a home is better because the value of it will always increase has been proven false.
Click here to read the full response.