How to Decide: Renting vs Buying a Home w/ Joseph Hogue (MI242)

Rebecca Hotsko chats with @josephhogue. In this episode they discuss how to decide if you should rent or buy a home, how to think this through in 2022’s high-interest rate environment, the pros and cons of renting vs buying a home, what are all the financial costs to consider in the rent vs buy decision, what the BURL rule is and how it can help with the rent vs buy decision, what are some other non-financial factors to help inform the decision to rent vs buy, the challenges of buying a home in this high-interest rate environment, how low do interest rates have to fall before it makes economic sense to buy a home, how to decide if you should go with a variable or fixed mortgage rate in this environment, Joseph’s top 3 dividend stock picks that can help you pay your rent, why Joseph likes REITs and how they typically perform in this environment, and so much more! 

Joseph Hogue is a CFA, personal finance expert, and Investment Analyst. He has published ten books in personal finance and he now runs a community of over 500,000 subscribers on his YouTube channel, Let's Talk Money.

IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:00:49 - An update on the housing market and indicators important to the rent vs buy decision
00:08:11 - Pros and cons of renting vs buying a home in 2022
00:10:34 - What are all the financial costs to consider in the rent vs buy decision
00:15:12 - What the BURL rule is and how it can help with the rent vs buy decision
00:16:47 - What are some other non-financial factors to help inform your rent vs buy decision
00:17:30 - The challenges of buying a home in this high-interest rate environment
00:21:03 - How low do interest rates have to fall before it makes economic sense to buy a home
00:24:08 - How to decide if you should go with a variable or fixed mortgage rate in this environment
00:34:34 - Joseph’s top 3 dividend stock picks that can help you pay your rent
00:37:10 - Why Joseph likes REITs and how they typically perform in this environment

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▶️ RELATED EPISODES:
- (MI179) Emerging Trends & I Savings Bonds Yielding Over 9% w/ Joseph Hogue: https://www.theinvestorspodcast.com/millennial-investing/emerging-trends-i-savings-bonds/
- (MI038) Credit Scores And Stock Investing w/ Joseph Hogue: https://www.theinvestorspodcast.com/millennial-investing/mi038-credit-scores-and-stock-investing-with-joseph-hogue/

💡 OTHER RESOURCES
- Connect with Joseph: https://mystockmarketbasics.com/
- Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a special $140 discount: https://bit.ly/3PVyNfF

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WHO I AM:
I’m Rebecca Hotsko, an investor and entrepreneur 💼 based in Canada; co-founder of a luxury boat ⛵ sharing club in Kelowna, British Columbia. I graduated from the University of Saskatchewan with a bachelor’s degree 🎓 in Economics and completed CFA levels I and II. I gained valuable experience working as an analyst for the Bank of Canada 🏦, the federal energy regulator, and in investment management. My passion for teaching others how to invest using time-tested strategies backed by empirical data led me to create an investing blog 💻 in 2020.

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