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Everyone relax, Yahoo! says it's a "Great Time To Buy!"
invite response
2011 Jun 6, 3:00am 27,196 views 152 comments
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everything
2011 Jun 9, 5:08pm
I commented earlier but will again. Friend of mine started out in nursing same time I started in IT. She now makes double what I make, money is literally falling out of her pockets, plenty of people can afford to get into homes now, and will because they can. The particular person I mention, between her and her hub., they can afford to make payments on three homes, renting the other two. I had to sell my home, everything else was going up, for the most part, while my income was going down. It really came down to either owning the home outright in 10-15 years, or having a nice retirement nest egg in 10-15 years.
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http://finance.yahoo.com/news/Why-Its-Time-To-wallstreet-3012977435.html
"But the long-term benefits of homeownership remain very much intact. For now, at least, you can deduct the mortgage interest on your taxes—a big perk for people in higher tax brackets. You get to paint your walls any color you wish, without having to clear it with a landlord. And assuming you can buy a home for about the same price as you can rent one, buying will give you the ability one day to live rent-free. Come retirement time, a paid-off mortgage means your monthly expenses are significantly reduced, and you have a chunk of equity to play with."
Deduct the mortgage interest? Paint my walls *any* color? Living rent-free? Sign me up! Happy days are here again!
#housing