I am not sure why anyone would think renting is better then buying regardless of the market going up or down. Rent= Paying a different owner to live, Owning= Paying yourself to live. Hmmm. LOL
10 Reasons To Buy a Home - Enough with the doom and gloom about homeownership. When Time magazine starts running covers that declare "Owning a home may no longer make economic sense," it's time to say: Enough is enough. So here are 10 reasons to buy a home:
1. You can get a good deal.
2. Mortgages are cheap.
3. You'll save on taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you'll get a tax break on capital gains–if any–when you sell.
4. It'll be yours. You can have the kitchen and bathrooms you want. You can move the walls, build an extension – zoning permitted – or paint everything bright orange.
5. You'll get a better home. In many parts of the country it can be really hard to find a good rental. All the best places are sold as condos.
Read the full article for more reasons:
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Watch Wall Street Journal Video:
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