Tornado Alley (PROG)

[jsc52033]

Is a person better of if they rent for 10 or more years
or if they have a mortgage even a 50 year mortgage
which gives them some tax shelter and allows them to accumulate
equity which they could not achieve while renting?
I began in real estate in 1964. Boughty my first rental on contact
at 6.5% with a clause it would drop to 6% if rates droped as it had just risen.
I saw rates go up and down between 6 and 7% until 1979 when they jumped
from 7-13% in one day then scalled up to 18-20% depending upon the property.
If I remember a Dem was the Pres and did a terrible job which Regan had to fix.
Over the years I have accumlated property in 3 states. I didn't care what the interest rate
was as long as I could get the property and it could make the payments. It always made me better off.
So is a person better off paying more interest and gaining some equity vs renting. My Maga mind says yes
what is your reason to rent.