Renting Forever and Trying to Create a Strong Financial Future

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Moving back and forth from Tennessee to Alaska, Michael Rogers and his wife Christy have twice been stuck simultaneously paying a mortgage and rent. Once, in 2006, the situation dragged on for eight months, finally ending when they sold their house in Tennessee for $20,000 below what they’d paid for it. Other adventures in homeownership ended well — the couple doubled their money after selling a fixer-upper. Then later, with another property, they had to pay out $30,000 to fix a mudslide around their home, a mistake caused by the builder. Two years ago, the Rogerses moved to Kingsport, in northeastern Tennessee, where they signed a lease on an apartment they thought would be a yearlong stopgap before buying again. The couple just renewed their lease for a third year, and have decided to remain renters for good. Mr. Rogers, a construction manager, likes the convenience of being able to move when a job calls.