Buying VS Renting: What the Media Does Not Tell You

19 September 2012

The Property: a junior one- bedroom with locker and no parking on Bay St. It sold for $270,000 in July of 2012; or it can be rented for $1600. Buyer puts 5% down ($13,500) and has a five year fixed rate mortgage of $256,500 at 3.09% So why do the experts recommend renting over buying right now?