Ask the Finance Expert
Farnoosh Torabi answers questions on the hot topics and gives advice for shopping and saving.
Rent or Own?
MyHomeIdeas (MHI): Would renting a home make more sense than owning in this economy?
Farnoosh Torabi (FT): Home ownership is a fantastic long-term investment. If your purpose in buying a home is to live in it for many, many years and you have the financial ability to do this right now, go for it. There are actually a lot of great deals out there.
If you are purely interested in making a short-term return on a real estate investment, know that the days of flipping houses in six months or a year for a fat profit are long gone -- at least in most areas.
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