By: midlifecrisis

midlifecrisis — Sun, 08 Jun 2008 07:12:21 +0000

Would you rather live in an apartment or a house?? Owning is much better than renting. Even if it did cost a little more you couldn’t pay me to rent somebodies beat up property.

By: Jim

Jim — Sun, 11 May 2008 06:58:01 +0000

How are you allowed to write a real estate column?
You make no comment beyond the straight monthly mortgage vs. rent comparison.
Assuming a three bedroom rental vs owning a three bedroom, when one adds in the tax deduction on interest (even assuing you have been in the property ten years and are at a $1,000 in interest to $532 in principle payment ratio, and you can subtract $300 a month from the mortgage in tax savings and would now have a lower net payment than renting.
Throw in that real estate, over time, is the greatest wealth builder for “average” Americans who do not have a large stock portfolios, and the fact that the homeowner will have title in 15-30 years (unless they strip equity via refinancing every chance they get), and then will have only taxes and insurance to pay in their Golden Years rather than an inflation adjusted rent (figuring 20 years out in this scenario) of well over $3,000 per month.

Comments on: Owning a home still more costly than renting

By: midlifecrisis

By: Jim