"Why Buy When you can Rent?"

"Why Buy When you can Rent?" That was the the headlines of the a full page ad in today's Washington Post Real Estate section. In smaller font it continued "The current real estate bubble has turned the old adage on its head." Brilliant. The ad was for some luxury aprtments in Bethesda, MD (surburb of Washington, DC). The ad continues:

"We all grew up with the adage, 'Why rent when you can buy?' But timing is everything, and with the historic rates of appreciation over the last several years, home ownership has certainly paid off handsomely for those who bought five, 10 or 20 years ago. But that was then - and this now. The days of double-digit annual appreciation are over. However, that doesn't mean you should give up the idea of moving to a modern, luxurious, .... What is does mean is that you have options you may have not considered. options like renting instead of buying. The monthly mortgage payment on a condominium that even approaches the level of luxury of The Palisades would far exceed the amount you pay in rent. Invest in savings as you see fit. "

It made my day to see this full page ad in the Washington Post Real Estate section.