October 3, 2005

Young adults look to buy, not rent

An article about how more young adults are choosing to buy a home rather than rent includes a comment by Allen Goodman, Wayne State economics professor. He cautioned that "there can be a tendency to stretch yourself to the limit," adding that variable rate mortgages can catch young owners off guard. "You find yourself in a situation where your income isn't going up and your payments are."

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