Rent vs. Buy | WAHomeowners.com

Follow the adventures of Bob and Sally as they learn about renting versus buying a home.

Category:

News & Politics

Tags:

• tax credit
• buying a home
• $8000
• real estate
• first time homebuyer
• home buyer

[bluefoxicy]

This is bullshit lol... people who rented in 2009 paid 76% more than people who owned a house with mortgage, according to the Department of Labor Bureau of Labor Statistics Consumer Expenses Survey, as aggregated by housing tenure. "Slightly more?" At the end of 30 years, the renter has as much liquid capital in his savings account as the damn house cost to begin with, if he didn't invest it and make money.

[mjeacoma]

Terrible time to buy - wait another 24 months people!

[rlopez1972]

great video

[ericnies]

The Housing Conspiracy, download it from Lulu.com

[usedcardboardboxes]

@mbmart2005 you bring up good points, food for thought.

[mbmart2005]

@mbmart2005 Oh I forgot , the $ that people invest in a new roof every 15 to 25 yrs, updating bathrooms, kitchens,and the home in general for selling purposes. And that's not a common maintenance cost. Also association fees.Also the different insurances types needed, like flood, sink holes, fire, and also depends what do you have in the home, like a pool that create more risks.

And in this economy, I don't think that the value of homes will be the same like in the past.

[mbmart2005]

Every year the counties push the property taxes up and ups like in Florida. Also the tax credit is only $500 for single and $1,000 for joint filers. Also if you deduct interest expense of the mortgage it wears out. Because after the first 5 to 15 years people start to pay more on the principal than the interest. In other words the interest goes down not up during the years so is the tax deduction of interest expense in mortgage. Renting is better