A lender’s table helps resolve the rent-buy dilemma

If you are one of those renters trying to decide whether it makes sense for you to buy, well, you’ll get no answers here about how long you plan to live in a new place or how much you want or need to move.

I also can’t help with which way the housing market is moving or where it will be some months from now. Economists are all over the lot (see my “Weekly Roundup” Dec. 24 or this coming Friday), though I am tending to be very cautiously optimistic about Manhattan.

But here is where you at least can obtain a perspective on whether you may be in a reasonable financial position to purchase real estate, an option I shrink from advocating for anyone.  The table below will be helpful: Continue reading

Advertisements