When you rent a place to
live, you can certainly expect your rent to increase each 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 seventies and early eighties.
Imagine how much rent might
be ten, fifteen, or even thirty years from now? Which makes more sense?
