Bubble Meter is a national housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage. Please join in the discussion.
Friday, August 19, 2005
Ditech.com 's Owning vs. Renting Calculator
Check out Ditech's online Owning vs Renting Calculator. Here are some problems that I found with the calculator:
It does not count maintenance costs for a house.
It counts appreciation of the home, but NOT investment of the monthly savings of renting vs owning. You would earn interest on this amount.
It does NOT allow negative appreciation
A faulty calculator from a mortgage lender. Not a surprise.
Good find. I know a thing or three about Javascript, so I stole their source code and I'm working on revising it to provide a more complete comparison. Hopefully I'll have something worth looking at within a week on Seattle Bubble.
I entered data including a large-ish downpayment and the ditech calculator seemed tell me that I was better off investing my downpayment elsewhere.
ReplyDeleteNot a surprise indeed. But, rare is the person who finds it and points it out! Good job! Cole @ BigHousingBubble.
ReplyDeleteYeah, mine (see above) was similar, 800k, 30% down, 1600/mo rent, 5.8% interest.
ReplyDeleteGood find. I know a thing or three about Javascript, so I stole their source code and I'm working on revising it to provide a more complete comparison. Hopefully I'll have something worth looking at within a week on Seattle Bubble.
ReplyDeletethe tim,
ReplyDeletecool. Great idea. :-)
where can i get more review on ditech ? i want to see some complaints that they had recently
ReplyDelete