Peace I am a realtor and I would advice you to rent. Unless you plan on staying in the place you want to buy long enough to ride out the downturn and then back the upturn, to simply break even then it would not be wise to buy.
Don’t drink the lemonade Peace… run the numbers yourself of renting a year verses buying a year. To make it honest run a sample turbotax return for each case and see for yourself. I think you will be surprised by the results. My total guess here is that you would see the following:
1 – Your monthly expenses if you owned would be MUCH higher then if you rented.
2 – The tax refund you received would most likely NOT cover the monthly expense.
3 – If you rented, and took the money you saved verses owning and saved it, then by the time the market bottomed out you would some cash for a downpayment.
