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In Most of U.S., Buying Beats Renting After Only Three Years

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  • William Matz | | 03 Aug 2012, 09:47 PM Agree 0
    How can we trust any estimates from Zillow, which admits, "50% of the time we are within 10% of the value"? Broad general averages, evenif accurate are not particularly useful in real estate, where specific location is critical. Furthermore, without any explanation of the methodology, further analysis of the conclusions is impossible, e.g., the assumed rate of appreciation . However, buyers with a shorter horizon need to consider that the breakeven is much sooner with a 5/1, 7/1, or 10/1 than a 30 fixed. As always, every buyer's situation is unique, and averages don't make the decision, even if they were reliable.
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