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[quote=Anonymous]I don't think renting is completely wasteful.  You are generally not stuck with any maintenance, and often utilities are covered.  There are often amenities you wouldn't have in a house you own.  You're just not getting the appreciation if prices in your area go up.  And rent increases would definitely be a factor, since a fixed mortgage payment would not go up.  In this area, the cost of renting vs. buying is not always that clear-cut.

In my case, the mortgage on my house is $2,400 because I have equity.  In my area, that wouldn't get me a 2BR apartment in a decent building.  But for people who don't have a big down payment, renting might be cheaper than buying if they're happy with their rental options.  When you have kids, you do need to do the math on whether you can afford a house in a school district you like, and if not, if you can find rental options that'll be ok for you long-term.  (it would suck to have to pull your kids out of school because you had to move out of boundary to a new rental 3 blocks away, or something.)[/quote]

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