"Rent or buy: A case for home ownership
Let’s look at an example. Assume you are renting a townhome for $1,600 per month. After one year, you will have paid your landlord a total of $19,200. Your landlord gladly takes your money with a big smile on his face. For simplicity sake, let’s assume there are no annual rent increases. At the end of five years, you have paid a total of $96,000 in rent. So, you’ve paid out almost $100,000 in rent and have nothing to show for it.
If instead, you purchase a townhome for $250,000. Let’s say your down payment is $12,500. You ask the seller to pay 3 percent of the sales price in closing expenses. Your monthly principal and interest payment on a 4.5 percent 30-year fixed rate loan is $1,203."-----
http://www.capitalgazette.com/news/business/columnists/jeff_ross/rent-or-buy-a-case-for-home-ownership/article_2b10da7c-7044-58b8-b1be-e4e2363641f8.html
^suit....tie......looks like an intelligent professional...probably owns a LUXURY townhome :)
While buying may be better than renting in a lot of cases, that is a grossly simplified example. For example, if you move several times over 30 years, there are many costs involved with your move that you don't have with renting. And your 30-year fixed rate loan of $1,203 doesn't include the 10s of thousands of dollars in maintenance costs you will perform on your house over 30 years.
Sandy Pantz - While buying may be better than renting in a lot of cases, that is a grossly simplified example. For example, if you move several times over 30 years, there are many costs involved with your move that you don't have with renting. And your 30-year fixed rate loan of $1,203 doesn't include the 10s of thousands of dollars in maintenance costs you will perform on your house over 30 years.
"What you must recognize is that the federal and state governments still allow us to deduct mortgage interest and real estate taxes from your income taxes.
If you take 35.5 percent of $10,240, you will recognize an actual, “in your pocket” tax savings of $3,840. Add to that, $12,500 for five years of real estate taxes or $2,500 annually. At the same 35.5 percent tax rate applied to mortgage interest, you can deduct approximately $888 per year in real estate taxes. Between mortgage interest and real estate taxes, your real tax savings equal almost $400 per month.
Now you’re thinking, maybe this guy does know what he’s talking about. Taking into consideration the total monthly payment of $1,775 to own, and subtracting from that the roughly $400 per month in actual tax savings, you have just reduced your total monthly payment to own to $1,375. In actuality, you would be paying almost $250 per month less to own than to rent."------
http://www.capitalgazette.com/news/business/columnists/jeff_ross/rent-or-buy-a-case-for-home-ownership/article_2b10da7c-7044-58b8-b1be-e4e2363641f8.html
While renting can certainly be argued as financially frivolous, the freedom associated with renting cannot be ignored.
In 
Ghost of Corvelay - While renting can certainly be argued as financially frivolous, the freedom associated with renting cannot be ignored.
it is not freedom.......every month your landLORD requires you pay $1,000plus for privilege to live in the place which tenant always complain the things don't work and rent is increase.......
homeOWNERship is closest to FREEDOM :)
Karasu do you masterbate to pics of Century 21 ads? You've made these kind of thread a thousand times already.
"Asian Americans More Optimistic About The American Dream
more Asian Americans were the most optimistic in their responses than any other ethnic group."-----
http://www.8asians.com/2010/11/30/asian-americans-more-optimistic-about-the-american-dream/
karasu - "Asian Americans More Optimistic About The American Dream
more Asian Americans were the most optimistic in their responses than any other ethnic group."-----
http://www.8asians.com/2010/11/30/asian-americans-more-optimistic-about-the-american-dream/
Exhibit A: Photo Evidence:
https://s3.amazonaws.com/obama.3cdn.net/45e164b67efef01414_dm6iiukg.jpeg
vs
http://cdne.asiancorrespondent.com/wp-content/uploads/2012/12/American-Dream-Nightmare-621x465.jpg
I don't think I would qualify for a loan, but that aside, yeah.
"If you take 35.5 percent of $10,240, you will recognize an actual, “in your pocket” tax savings of $3,840."
This makes it seem as though you think you get $3840 cash back from taxes 'in your pocket' rather than just deducting 3840 from your total earned income. Which for an income of 150k taxes at 25%, would be $960 less paid taxes.
Still significant just bad wording. 
Does anyone know what the size of the win was?
Just bought my first house, I hope I made the right decision.....
You forgot to add taxes to that mortgage. My wife and I are in the process of closing on a $250,000 house and the monthly payment, with taxes, is still $1,500.
We're only putting $1,500 down, and hope to get rid of PMI within the next year or so by applying more towards the principal each month.
kyle223 - You forgot to add taxes to that mortgage. My wife and I are in the process of closing on a $250,000 house and the monthly payment, with taxes, is still $1,500.15% down, not $1,500 lol
We're only putting $1,500 down, and hope to get rid of PMI within the next year or so by applying more towards the principal each month.
kyle223 - You forgot to add taxes to that mortgage. My wife and I are in the process of closing on a $250,000 house and the monthly payment, with taxes, is still $1,500.
We're only putting $1,500 down, and hope to get rid of PMI within the next year or so by applying more towards the principal each month.
read the article......understand the tax advantages