Owning a Home Is Way Overrated. Renting Is Wise Move

In the spring of 2008, shortly before the financial world completely imploded, I traveled around Florida reporting on the real-estate crash. I ended up in a brand new “super luxury” high-rise in Miami’s Brickell area that was just about to open. It had a waterfall in the lobby, a pool on the roof, valet parking and all sorts of other conveniences. Every exercise machine in the gym had a slot to connect your iPod directly to a personalized sound system. The tower’s units had mostly been bought off-plan. The owners, unable to flip the units for a profit, had been forced to rent them out instead and wait. Read Full Article »