Should they rent or buy?

PS? Chaz last nite was amayzing as usual. The bedroom was 500 degrees because of you telling me your real estates how you buy low and sell high. THAT IS WHY YEW R MY REALTOR

Chaz yew r uh dreamboat and can take me to eat at a fancy rettrarant anytime. Walter

At this market condition for long term i would suggest buying.

I'm a Realtor and find myself embarrassed by Chaz's advice. Low income? Buy. Huge debt? Buy. No savings? Buy. Seriously, Chaz, step away from the kool aid.

hey about telling the whole story Chaz? "With 100% financing he/she could afford a $_____ house. Of course, he/she would also a have to pay huge sums in yearly property taxes, monthly assessments, take on market risk that may bottom out down another 10-15% from here, leaving the buyer in $25-100k of debt should they be forced to sell. Which they likely will have to, because they have no savings. It's all good though, because I got paid a commission." ****ing sick slimeball

Lastly, in case anyone else was still listening to these idiots: Let's look at a 30yr amortizing loan. Which is what most people will get into (after this interest-only debacle anyway): lets say a 30yr 6% loan for $500k. You'll pay $3k monthly. $36k a year. After 5 years, you've paid about $180k. Of that $180, ~85% has been interest. You've paid off only about $30k of the house. Great way to become a home "owner", huh?

and Gisella -- as an advisor -- how about levelling with people? Why not tell them the difference between renting and "buying" (with no/little money down using a mortgage)? It's about as simple as this: when you rent, you pay someone for the use of their property; when you "buy" with a mortgage, you pay some one for the use of their money. You're not an "owner" with no money down. Not even with 20% down. Oh, and also, when you buy you take market risk and pay huge taxes/assessments

Chaz says: "With 100% financing, he/she could afford a $______ house"

let's see.... "no money down" is a recommendation - with no disclaimer - just as long as Chaz gets paid. if your subjects take that advice there's a chance each of them will not get out of debt for decades.

It's nice to see that TimeOut has learned nothing in the last few years. (and that Chaz from the billboards is as big of a slime-ball as I always thought he'd be)

Great - ask a real estate agent (who makes something like 5% of the purchase price) if someone should buy or rent - no chance of a bias there!