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Renting Iss Better Than Buying Essay

  • Submitted by: lawanda
  • on February 18, 2012
  • Category: Social Issues
  • Length: 573 words

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Below is an essay on "Renting Iss Better Than Buying" from Anti Essays, your source for research papers, essays, and term paper examples.

Renting an apartment is a better option than buying a house
Lawanda Tyler
September 18, 2011
Stefanie Marschner

Renting an apartment is a better option than buying a house
Guillermo Rivera’s COMM-156 Final Exam chosen topic is number 5.
Purchasing a home is like throwing money away while renting an apartment is less stressful and saves money.
        Home ownership can be very stressful, considering there is a potential of losing such a major investment to foreclosure.   Factors such as the current bad economy, high unemployment rate, potential health problems or other unforeseen issues, and especially the near record pace of home foreclosures, it is almost certain that renting an apartment is less stressful.   RealtyTrac, a foreclosure listing firm, stated that banks across the United States repossessed 95,364 properties just in this past month, which is a 3% increase from July and an increase of 25% from August of last year.   In addition, they also stated that an additional 2.3 million homes have been repossessed by lenders ever since the beginning of the recession that started in December 2010.   The forecast for 2011 is a 500% increase. The numbers are scary as banks are set to foreclose on over five (5) Million homes this year. That’s devastating for the housing sector. (USA Today, 2011).   It is very important to take into consideration that the odds of a home foreclosure are highly possible.   Too many negative circumstances can easily cause homebuyers financial situation to be grave, eventually leading to the loss of their homes.   It is bad enough that trying to purchase a home is so stressful, the thought of losing the home to foreclosure only adds to the stress and creates additional stress as well.
        Credit is another important issue that causes stress while attempting to own a home.   Given the economic situation all across the United States, families trying to purchase a home will likely face financial crisis for their...

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