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.  |
This is what I tried telling her. Depreciation here accelerated last quarter and the economy is looking worse overall, not better. I was going to buy a $500k house back in 2007. Today that house is worth maybe 300k. People here posting that they would buy a house, and I appreciate everyones feedback, but the stats don't lie. Homes are going down in value here in Florida with no signs of stopping. When I do the math it simply makes no sense to buy right now. $7000 a year depreciation on a 100k house. No matter how I run the numbers renting is better.