from San Diego Union Tribune’s EconoMeter panel.

Q: Are rents rising so high that home buying becomes a viable option for many tenants?

Bob’s Answer: YES

With today’s interest rates, it pays for most people to buy a home with today’s rapidly rising rents. However, having an available down payment, the ability to qualify for a mortgage, taxes, insurance and association fees as well as money for home repairs must be considered.

Although owning a home is still a great American dream and might have potential tax advantages, it must be weighed against personal finances.

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