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Should I Rent or Buy a new Home?

To Rent or Buy? That is the question. Trulia.com shows us, with some neat graphics , that the answer depends on where you live. If you're in Phoenix of Jacksonville: Buy, Buy, Buy. But not so fast in New York City or Boston. No matter where you live, one of the most expensive parts of a divorce is changing your lifestyle from supporting one household on your current incomes to supporting two households. Whether or not the current home is sold or one person stays there, in the end both parties are faced with the question: is it better to buy or rent? Traditional thinking is that it is better to buy. It is the American Dream to own your own home, and the government assists you by offering a mortgage interest deduction on your income taxes. But as Trulia.com's graphics demonstrate, that may not be enough in todays market. Let's use Natick, Massachusetts to test an example: The average rent for a 2BR home or apartment in Natick in 2010 was $1400. The cost of l...