Quote:
Originally Posted by Jesus H Christ
Because the $1000 is NOT going to your "own" place, BUT the interest on the home loan. Currently the US has a glutton of empty homes and many in the lengthy foreclosure process.
Meaning, homes will NOT increase in-value, but stay stagnate as the upkeep and maintenance actually decrease the overall value until the market absorbs glutton and newly foreclosures.
This leaves you 2 choices, straight out buy or rent.  |
I own a home, I know how Mortgages work. Even if 50% is repayment and 50% interest, you still come out ahead, especially if you are in it for the long term. Granted, I don't know much about the areas Choker is talking about so your second point is probably very valid. I guess I'm pretty lucky then where I am.