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Economy

Is it better to buy or rent a house in Michigan?

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Steve Carmody/Michigan Radio
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If you're a baby boomer, chances are you grew up with your parents pounding one basic truth of life into your head, and that truth was that you are always better off owning your own home rather than renting.

Well, the Great Recession and its housing meltdown certainly gave us some new thoughts on renting versus buying.

An Oakland County developer remarked that of late, he's seen more baby boomers deciding to skip home ownership and go with renting.

We wondered how things are looking in Michigan, the housing market and renting versus buying.

Daren Blomquist, Vice President of RealtyTrac, joined us today.

Listen to the full interview above.

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