The following video is part of our "Motley Fool Conversations" series, in which Motley Fool editor Erin Kennedy and Fool contributor and financial planner Dan Caplinger discuss topics from around the investment world.
In today's installment, Erin and Dan discuss whether it makes sense right now for young adults to rent or buy a home. Erin talks about how renting feels like throwing money away but wonders if the risks of the housing market are worth the benefits of buying. Dan answers those concerns by giving some specific factors to consider in helping you decide whether buying or renting makes more sense for you. Even with low home prices, people who don't expect to stay long in a given area or simply aren't comfortable taking on the responsibility of homeownership should strongly consider renting until they're ready to settle down and assume those added responsibilities.
Putting a roof over your head is just part of keeping your finances in order. If you're interested in building long-term wealth and retire well, check out our free report, "3 Stocks That Will Help You Retire Rich." Inside, you'll find winning wealth-building strategies as well as some specific stock ideas to consider. Click here to keep reading.