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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: microhoogle! who wrote (27963)3/10/2005 10:24:44 AM
From: TradeliteRead Replies (1) of 306849
 
re your question about why pay the "huge interest upfront for 7 years".......

Well, one reason might be that the homeowner is in a high tax bracket and will benefit greatly from the mortgage interest deduction.

I live in an area where people are well-paid in good jobs, so owning a home, even if only for 7 years, usually adds to, rather than subtracts from, their bottom line when they sell. We also have had fairly steady price appreciation here for many years, so it's usually possible to turn a profit when a house is sold.

Actually, it has been estimated that houses turn over in the Washington, DC, area every 5 years. Like anything else, it's just a number and doesn't apply to everyone.
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