One of the points made by William Fischel in his writings about zoning and NIMBYism is that the impetus for this behavior comes from homeowners trying to safeguard the value of their investment. Per Fischel, since most homeowners’ entire savings are locked up in one risky asset, they are risk-averse when it comes to any neighborhood change, leading to NIMBYism. Renters are more flexible.
Source: Pedestrian Observations
Whether renting is better than buying depends on many factors, particularly how fast prices and rents rise and how long you stay in your home. Compare the costs of buying and renting a home in the calculator below. Click the ADVANCED SETTINGS button to change inputs such as your rate of return on investments, condo/common fees and your tax bracket.
Amazing interactive graphic that makes decision-making for one of your most important decisions a bit easier.
Purchasing a home is cheaper than renting in 98 out of the 100 largest U.S. metropolitan areas, a survey by real estate site Trulia showed.
Source: San Francisco Chronicle.
Researchers discovered homeowners, on average, outweighed renters by 12 pounds. In addition to excess weight, female homeowners were also carrying around more aggravation, making less time for leisure, and were less likely to spend time with friends.
Journal of Urban Economics (under review)
Research by the Center on Budget and Policy Priorities shows that since 1995 federal funding for low-income housing assistance has dropped by over 20 percent, both as a share of GDP and non-military discretionary spending. Meanwhile, the number of low-income renters spending more than half of their income on housing costs has increased by over 33 percent since 2000.
In the current housing crisis, low-income homeowners continue to face the brunt.