10 reasons you should buy a home now

10 reasons you - 10 reasons you should buy a home now At the peak of the housing bubble plenty of people thought a house was the key to riches Now

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
10 reasons you should buy a home now At the peak of the housing bubble, plenty of people thought a house was the key to riches. Now they're wondering if buying a home even makes sense anymore By Brett Arends, The Wall Street Journal You can get a good deal You can get a house at a bargain price now -- especially if you play hardball. This is a buyer's market . Most of the other buyers have vanished since the tax credits on purchases expired. We're four to five years into the biggest housing bust in modern U.S. history. And prices have come down a long way -- about 30% from their peak, according to the , which track home prices in cities across the country. Yes, it's mixed. New York 's prices are down only 20%. Arizona 's have been halved. Will prices fall further? Sure, they could. You probably won't catch the bottom, but it doesn't really matter so much in the long haul. Mortgages are cheap 1. You can get a 30-year home loan for about 4.3%. What's not to like? These are the lowest rates on record. As recently as two years ago, they were about 6.3%. That drop slashes your monthly repayment by a fifth. If inflation picks up, you won't see these mortgage rates again. And if we get deflation and rates fall further, you can refinance. You'll save on taxes You can deduct mortgage interest from your income taxes . You can deduct your real- estate taxes . And you'll get a tax break on capital gains
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/21/2011 for the course COM 156 COM 156 taught by Professor Dr.jessicaguire during the Spring '11 term at University of Phoenix.

Page1 / 2

10 reasons you - 10 reasons you should buy a home now At the peak of the housing bubble plenty of people thought a house was the key to riches Now

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online