# Rent Vs. Buy Myths That Ruined the Housing Market

**URL:** <https://forums.speedlife.net/t/rent-vs-buy-myths-that-ruined-the-housing-market/45333>\
**Category:** NYSpeed Off Topic\
**Created:** [March 20, 2008, 8:44am UTC](https://forums.speedlife.net/t/rent-vs-buy-myths-that-ruined-the-housing-market/45333 "2008-03-20T08:44:25Z")\
**Posts on this page:** 1\
**Showing post:** 41

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**Author:** ![Syclone11](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/syclone11/32/7300_2.png) [@Syclone11](https://forums.speedlife.net/u/Syclone11)\
**Post date:** [March 24, 2008, 10:21am UTC](https://forums.speedlife.net/t/rent-vs-buy-myths-that-ruined-the-housing-market/45333/41 "2008-03-24T10:21:24Z")

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> [@Jack](#):
>
> So… big down payment or no down payment?
> 
> Say you have $20k in the bank… and you’ve been saving it for a house… but now interest rates are 5% (ish) … are you better off investing that money elsewhere or putting it down on a $150k house?

The question is how long do you want to ride out the investment? See my post above. I have money tied up in my businesses, housing, investment property, money markets, 401k, IRAs, short term CDs, etc. Diversify my friend.

You know I was living OK in NY on about 55k a year… I am living much better now and have increased my net worth and income by more than double through real estate. You just have to know what you are doing and get yourself in position to get the best possible deal. You know I still have hook ups in WNY for real estate, foreclosures, lenders, etc.

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