How many years does it take for buying to pay off?

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Calculations are from NYT Financial Calculator using all default settings except house price, rent, house price appreciation, rent inflation, and market return. "Low" refers to the scenario in which house price appreciation (HPA) is 1%, rent inflation (RI) is 3%, and market return (MR) is 3%. "Middle" refers to when HPA is 2.5%, RI is 4%, and MR is 5%. "High" refers to when HPA is 4%, RI is 5%, and MR is 7%. "High market, low housing" uses the high value for MR and low values for HPA and RI, and "Low market, high housing" is the reverse. Values for low, middle and high projections are sourced from various government agencies, government sponsored enterprises, and private firms.