Should I Rent or Buy?

Let's face it. Housing prices are just too high right now. Do I pay sky high rent or do I try and buy an expensive home that isn't what I want? There is a point and time where rents may increase so much that you won't be able to live in the area you want to. On the other hand prices may go so high you feel like you can never get into the housing market at all. The answer to this dilemma is to use no more than 50 percent of your income to rent or buy. If you make 4,000 per month income, only half of it should be spent on housing. If you can buy a house for$2,000 per month, go ahead and do it. If you don't make enough, wait and save. By following this formula you will actually be able to afford the house you live in.