To rent or to buy? That is the question!
Really, it’s a serious question. And the answer is not dependent on what you can afford. First, let’s re-write the American cultural dictionary, Millennium edition.
American Dream, re-defined: Life, liberty, and the pursuit of happiness.
Life – To be healthy of mind, body, and spirit with adequate food, shelter, and clothing.
Liberty – Unhindered access to truth, clean air, clean water, food produced naturally, livable wages, products traded fairly and produced sustainably.
Happiness – Comes from contributing to the betterment of others near and far and experiencing the variety of tastes, sights, and sounds available on Planet Earth.
You may think I’ve wandered off topic. There is a connection to housing here. Notice, that the definition above does not include “Own a little corner of the land, and fill it with as much material junk as my credit allows.” This means we can all now relax. Not owning a house does not mean we have failed to achieve the American Dream! All of the sweat and tears of our parents, grandparents, and great-grands were not in vain. No, not at all. On the contrary, Sister, you have the freedom to choose which housing condition makes the most sense for you.
There is a library of information on the web discussing the advantages of renting and buying. Taking out a 30 or 40 year loan may not make sense if you can rent a comparable dwelling for a lower overall monthly payment. Go ahead, search the topic and define your own American Dream.
