According to Sean Robbins (a real estate expert in Portland and Newport beach), homeownership is always a better way to produce wealth than renting.
We’ve asked many questions in our real estate report. The main question that we wanted to answer was the following: ”Is it better to rent or to buy a home today in Portland”?
Of course, real estate in Portland can be quite expensive. But the results shows it’s still better to own a house. We didn’t only analyze Portland, but the entire US housing market. We also isolated major markets for comparison.
In the past, Miami and Portland had been inching closer toward renting being the better option. But currently that’s not the case anymore.
Conclusion
Buying a home in Portland makes sense financially and socially. It’s also beneficial, because rents are predicted to increase substantially in the next year. Better to pay monthly payments for your own home, than pay the same amount for renting a place.