Should You Rent or Buy? The New Math.

<p>For many millennials, buying a home has become almost entirely out of reach. Average 30-year mortgage rates are<a href="https://fred.stlouisfed.org/series/MORTGAGE30US"> hovering around 7 percent</a> — the highest they’ve been since 2007 — largely because of the Federal Reserve’s efforts to tame inflation.</p><p>David Leonhardt, a senior writer for The New York Times, discusses whether it is time to change how we think about buying vs. renting.</p><p>Guest: <a href="https://www.nytimes.com/by/david-leonhardt">David Leonhardt</a>, a senior writer for The New York Times. He writes The Morning, The Times’s flagship daily newsletter, and also writes for Sunday Review.</p><p>Background reading: </p><ul><li>Are you ready to buy a home? Should you rent?<a href="https://www.nytimes.com/interactive/2023/08/04/realestate/rent-vs-buy-housing-quiz.html"> Take our quiz</a>.</li><li>From Opinion: Millennials are hitting middle age —<a href="https://www.nytimes.com/interactive/2023/03/14/opinion/middle-age-millennials.html"> and it doesn’t look like what we were promised.</a></li><li><a href="https://www.nytimes.com/2023/10/24/books/review/ours-was-the-shining-future-david-leonhardt.html">The New York Times’ review</a> of David Leonhardt’s book “Ours Was the Shining Future.”</li></ul><p>For more information on today’s episode, visit <a href="http://nytimes.com/thedaily?smid=pc-thedaily">nytimes.com/thedaily</a>. Transcripts of each episode will be made available by the next workday.</p>