[quote=deadzone][quote=AN][quote=SD Realtor]For the most part they will also enjoy a quality of life that FOR THEM is superior to those who rent.[/quote]
I can attest to this statement. My quality of life is SO MUCH better now than when I was renting. There’s something to be said about knowing your mortgage payment for 30 years. Even if I don’t have another raise for 30 years and my house does not increase in value for 30 years, I know I can afford the monthly payment easily while still be able to save for retirement/college/travel/etc. Also, in 30 years, I know I can retire and have very little expense for shelter.[/quote]
True, but on the flip side you are pretty much a slave to the mortgage now. You will most likely be below water for many years to come so you will have little opportunity to upgrade. Basically you are stuck in your house. Furthermore, it really depends on your mortgage payment. How much is it compared to rent for the same place?
Bottom line, if mortgage payments are not significantly more than comparable rent and your are happy with your house for the long run (I mean next 30 years) then you made the right move.[/quote]
Not everyone is broke or worried about being upside down. For us its been great owning a home. I bought in 2007 and I could sell my home for what we bought it for but id lose a large amount after realtor fees etc… But I am still buying another home and upgrading. We know plenty of people who are upgrading and that would be the market who are buying now in the area we have been looking.
I will rent my place and loose some money each month but the interest write off will more than make up for that loss until its time to sell.
any after downpayment our mortgage is much less thatn what we would pay to rent a house like the one were looking at.
For us we would rather not have to worry about moving every year or so and eventually a home is always a good investment if you hold onto it long enough and can afford it.
To recoup. Some people are still taking the bull by the horn and thriving even in this economy and are getting married, having kids and buying bigger houses. Life is still going on for many of us.
Irregardless of what the news and naysayers might be reporting.
