Renters better off financially than homeowners

People who rent a home probably have been told at some point that they’re “just wasting money” or “helping someone else pay his mortgage.”

But a study by professors at Florida International and East Carolina universities shows that renters did better financially than buyers over a 30-year period.

The study collected data from 23 metro areas nationwide from 1978 to 2009. FIU’s Ken H. Johnson and Eli Beracha from East Carolina compared profits from the sale of a home to the value of a renter’s investment portfolio. They factored in such things as the costs of owning a home, its tax benefits and home-price appreciation.

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Read: “Renters better off financially than homeowners,“ an article by Sun-Sentinel.com.

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