It’s never possible to know for sure, at any given time, whether it’s a better idea to rent or to buy. If rents and prices both go up in the future, then buying’s likely to have been a good idea. And if they both go down, then renting is sure to have been the better idea.
But never mind the future — what about the past? In a wonderful paper, Eli Beracha and Ken Johnson went back and actually did the math on whether it would have been better to rent or buy over the past 30 years. And the answer is clear: it would have been better to rent.
Read : ” Renting vs Buying : Reuters ” an article by Reuters