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In some point of every individual life comes a time to decide about owning or renting out their place. The most popular question that arises is "Do I have to rent, or Buy?" and in most cases, the answer is "Depending on the housing status, and the market circumstances". The year 2008 was among the most memorable year in the US. It is when the US economy bottomed out and their housing bubble burst. As the world watched, the US struggled since and that is where the idea of renting versus buying turned its head in the market.
Buying was always the best option for most Americans. But because of the economic downfall, renting became a better option. When homes values fell, many homeowners fall into an upside-down problem on their mortgages. Many American homeowners now owe more on their mortgages than what their home was worth.
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