Brochure Touts Benefits of Renting

A new brochure titled "Don't Buy the Myths: Renting Can Be a Smart Investment" has been issued by the National Multi Housing Council and the National Apartment Association.The brochure maintains that the tax and investment benefits of owning a home are often overstated and the costs understated. "The best-kept secret in the housing market is that renting is often the better financial choice," said Douglas M. Bibby, president of the NMHC. "Researchers estimate that nearly 20% of house buyers would have saved money by renting, while another report by Harvard University concluded that 'in many places, at many times, and for many holding periods during the past 15 years, renting made better financial sense than owning'." The organizations can be found online at http://www.nmhc.org and http://www.naahq.org.