Stable Monthly Housing Costs
When you rent your home, you can certainly expect your rent to increase perhaps every year – or even more often. If you get a fixed rate mortgage when you buy a home, you have the same monthly payment amount for thirty years. Even if you get an adjustable rate mortgage, your payment will stay within a certain range for the entire life of the mortgage – and interest rates aren’t as volatile now as they were in the late 1970's and early 1980's.
Imagine how much rent might be ten, fifteen, or even thirty years from now? Taking that into consideration, which makes more sense - rent or buy?