Renters may get shafted in their retirement years

This post was published 8 years ago. Please, read this page keeping in mind that this home may have sold by now. You can always check current status by calling or texting (530) 356 4500 The Address Realty DRE # 01710206

“Renters are the next Mortgage Crisis.” That’s the premise of this thoughtful article in Forbes. The recent bad press over homeownership may be making more people consider renting over owning. But what’s the long term outlook for the renter class? I plan on retiring to a paid-off home with no payments to fuss about in my golden years. I’ll get there by paying off my 15 year mortgage at a low fixed monthly rate. If I was renting, I’d end up after 15 years with nothing but a stack of rent receipts. And rents are going up. All the time. I don’t want to be worrying about that uncontrolled rent inflation when my income may be limited. Don’t get me wrong, renting is a good answer for some people. And if you timed it right, to sell in 2005 and rent till today, good for you! But the market timing now favors the buyers. Don’t screw up your retirement. It’s tough to make it up later.

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