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"To assume that a Manhattan property won't appreciate 10-15% over a 30 year period to cover the closing costs and selling costs is pushing it. Not to mention the rent WILL go up every year, and the tax benefits of owning would knock thousands off the net monthly payment in all of the above examples. The real question in the rent vs buy debate is how long someone plans on staying in the same property. There is no question that if you plan on moving every 3 years you're better off renting, and if you plan on staying in the same place for 30 years you're better off buying. Most people fall somewhere in the middle and will have to work out their own numbers."?anon [Rent or Buy? Running the Numbers on Five UWS 3BRs]