> " In a normal market, the renter should have more free cash flow over the first few years, and the buyer should have more free cash flow starting about 5-10 years in."
Agreed, except that AFAIK there hasn't been such a market in the US for years, if not decades, in any major city. Heck, I come from Canada where I know some people also buying their first home - housing up there in any major city is also as bubblicious as it is here, to varying degrees.
In just about any major city I've looked at, renting is massively cheaper than buying, which after the housing crash is very puzzling.
The "normal market" I described existed in most mid-sized and large US cities up until about 2002. There are a couple special cities like New York, where the "normal market" hasn't existed for a long time; one might conclude that the rent-vs-buy calculations are being done on a multigenerational basis.
Renting is still quite a bit cheaper than buying in many regions. This is because the crash isn't done yet. Give it another 3-5 years.
Agreed, except that AFAIK there hasn't been such a market in the US for years, if not decades, in any major city. Heck, I come from Canada where I know some people also buying their first home - housing up there in any major city is also as bubblicious as it is here, to varying degrees.
In just about any major city I've looked at, renting is massively cheaper than buying, which after the housing crash is very puzzling.