Rent vs. Buy
information is useful on a macro level,
but do not use it to make the decision to buy a particular property.
Credit Loan has a spreadsheet format.
Misleading Sources of Information: The Case-Shiller Index, which newspapers frequently site, can be very misleading. All that Index does is track the average value of the homes that sold in a given month which is affected by: 1) The price of homes and 2) The mix of homes sold. Lately, the ratio of foreclosed homes to market rate homes that have sold has had the biggest impact.
The following non-housing
example might help in understanding why an average is
not a good measuring stick: The average
height of people in America is shrinking. If the newspapers interpreted
that information the same as it interprets the average price of homes
sold from one month to the next, the stories would be about how our diet
is affecting our growth. However, the reason is that Latin Americans are comprising a
larger percentage of our population. Unfortunately, our diet is causes a width problem not a height problem. You and I are not getting shorter.
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