The cost of owning a home has gotten more expensive since the collapse of the housing market a few years back. Meanwhile, the cost of renting an apartment has also skyrocketed thanks to the Federal Reserve (SEE: 11 million Americans dedicating half of income to pay the rent).
So, is renting always a waste of money? Not necessarily. Many homeowners are house rich but cash poor and don’t have enough money to cover an unforeseen event or emergency since all of their assets are illiquid.
This video takes a very interesting look at this question:
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