Rent or buy? Parents weigh student housing options

Wednesday, September 10, 2008 | Source: The Ann Arbor News

Parents are finding it makes more financial sense to buy a condo than to pay rent for their kids in college.

Excerpt:

As the parents of college-bound students quickly find out - especially this time of year, when big bills come due and new leases are signed - housing isn't cheap.

In Ann Arbor, it can cost anywhere from $500 to $1,000 or more a month to rent an apartment, according to June data from commercial real estate research company Reis Inc. Add in the cost of utilities, food, phone, Internet and cable, and the expense rises.

For many, it raises the question: Would my money be better spent buying a home?

Read the rest of the story here.