If you had the choice....

[Poll] WOULD YOU RENT OR OWN?

RENT makes sense in an area with expensive or high property values AND if you have a responsible landlord that properly maintains the property.

OWN makes sense if the property is cheap in your area.

One of the problems with ownership is this, if you are house-poor then you can't afford to make an needed changes, repairs, general maintenance, or for that matter, renovations that you wish to make for personal or aesthetic reasons.  If you have to make a move, you are stuck until a buyer is found.

Conversely, if you RENT, repairs or maintenance are 'just a phone call away', and affect your landlord's wallet, not yours.  If you decide you don't like the rental or need to make a change, simply move to something different - no need to sit on a property that won't sell for several months and be stuck there until it does.

You should always OWN instead of rent.  I've seen time and time again slumloards that abuse tenants by not fixing things in the house and people to go to court for this.  Unfortunately there are more slumloards in the country than good landlords.  If you can't afford a house you shouldn't own one.  The problem with society is that there caught up in a dream that's not practical. 

Houses are the cheapest they've been in the past 3 years.  That's the reason for why the economy is like it is now.  As a mortgage consultant my clients have to get appraisers to asses values of homes and I can't tell you how many denials I've come across because house values aren't where they were 3 years ago.  It is now a buyers market where sellers are dropping there houses left and right just to get it out of there hands and off the market.  Your rent can increase due to standards of living if you have a fixed rate for a mortgage your payment won't change and you can attack your principal balance and the house will eventually be YOURS and nobody elses.  I would always rather it be mine then having to worry about if my landlord fixed something.