So.... We are stuck right on the fence. Should we buy and gain instant equity - taking the risk of owning property in this scary market? Or should we rent - free from the commitment of ownership but not gaining any equity and "throwing away" our rent money?
It seems like renting would be a good option right now. To not be tied down to property in light of America's financial crisis sounds good. But if we buy and weather the recession, we will probably come out on top in the end.
What is the smartest thing to do?