Freddie Mac, one of America’s biggest buyers of home mortgages, has a nifty tool; a Rent vs. Buy calculator that helps potential home buyers decide if they should buy or continue renting. Here is one huge mistake:
The tool didn’t let me pick a value of -1%. It says I must assume home values will appreciate between 0 and 100%. Really? Does Freddie Mac realize house prices have sharply declined in the last two years? Click here to see the calculator in action.
via: Planet Money Podcast