Quote:
Originally Posted by MGM135is
Two of the middle class’ biggest tax breaks come for 401k tax deferment and mortgage interest deductions. If you look at the house as an investment in its totality, the investment is better than you think compared to renting in most cases. For example, if you rent, you are probably paying the owner’s mortgage or more for them. So not only will you pay the same or less per month with a mortgage, you can claim a deduction on your taxes on interest paid.
I have two homes which I rent. Initially wasn’t by design but I am cash flow positive by several hundred per month. I continue to pay my properties down and increase equity thanks to the renters.
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Depends on the location. Plenty of areas in the US where home prices are out of reach for most. I am back to looking for another home to buy after renting for a while after I sold my previous home. The same $ I paid last time around will not buy me near what I used to own it seems. No wonder everyone is broke or in massive debt. COL is way too high considering wages have not kept up. I want a live in gf just so I have the extra income!