ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 81: Is It Dumb For ER Docs To Rent A Home?

The fastest-growing renter segment of our population goes to high income earners. That seems counter-intuitive; high income earners are able to overcome the barrier to entry associated with home ownership – e.g.: down payment, loan qualification, and credit – better than low income earners. So if it isn’t a choice, what are the factors at play that are leading to this upward trend? And if it is a choice, why are more and more high income earners, like ER Docs, choosing to rent over buy?

We’ll get into that, the tax implications of each as it pertains to the decision, and all of the emotional elements that are at play in today's episode.


Topics Discussed:     
  • Why so many professionals are choosing to rent over buying.
  • The value in having the freedom to move around.
  • Why the housing market has shifted so much.
  • The tax benefits of owning a home.
  • The benefit of not owning a home.
  • How prices have gone up so much even though there are homes available.
  • The costs associated with owning a home.
Resources Mentioned:

Tags

planning, financial planning, ER doctor, doctors, finances, renting, buying, housing market,

by 
Scott Wisniewski, EA