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I don't understand why anyone would pay rent, unless you were only planning to stay in a location temporarily. We looked at apartments in 01, but bought a house in KC, Raytown schools for $74k. That was in 01, and when we moved in '05 we sold it for $101k.
When you own, you are paying the mortage on your own property and will walk away with the difference when you sell.
When you rent, you are paying the landlords mortage, and you leave with nothing.
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