In Portland, Buying a Home is Cheaper Than Renting
April 13, 2012
Max Radi and his partner Seth are not your typical homeowners. As recent college graduates with entry-level jobs, they were just looking for a decent place to rent near downtown Portland one year ago. “Then we started thinking about how we could get a decent return on our investment,” Max says. He looked at the numbers and realized that the cost was about the same to rent as to buy a condo in downtown Portland. “When you’re renting, that’s money you’re losing,” he says. When the two expanded their home buying search to condos outside the downtown neighborhood, the options were greater and the savings even more substantial. Seth had no credit, but Max’s credit was good enough to qualify...