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Fifty-somethings: rent or buy?

Saturday, August 18, 2012

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Fifty-somethings: rent or buy?
Aug 19th 2012, 02:21

Q: Two of my friends are considering buying a home — a first for both of them. They are in their mid-50s. One recently retired after 30 years from a mid-level staff position at the University of Texas; the other worked many years part time at UT, but now has a full-time position as a biologist with the city of Austin. Neither seems to have a business mind, so I cautioned them to educate themselves regarding all that is involved in homeownership. I explained that they have “lost” 25 to 30 years of asset building, and with a 30-year mortgage (which they seem to be planning), they will be 85 when...

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