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Housing is on the up and up, with demand high and sales robust. Still, for those new to homeownership, it may be difficult to determine which route—buying a home or renting one—is the most sensible.
"Millennials should weigh a number of factors before committing to any lease or mortgage," said Corey Carlisle, executive director of the American Bankers Association (ABA) Foundation, in a statement. "With the cost of living continuing to rise, they must be prepared to handle the demands of their housing choice—whether that's a rental property or homeownership."
First to consider, according to the ABA Foundation, is your savings. Do you have enough money for a down payment for a home or a security deposit for a rental—and enough saved for emergencies?
Next, weigh all of your debt obligations—student loan...
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