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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: J. P. who wrote (495)	8/29/2001 1:57:58 PM
From: JakeStraw	Respond to of 306849

J.P., All I know is if I didn't have a home and was not able to itemize my deductions on my tax return(s) I would get murdered. I feel renting (in most cases) is equivalent to flushing that money down the toilet every month.

To: J. P. who wrote (495)	8/29/2001 2:12:36 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<In the last 5 years people have just been lucky to have the appraised value of their home go up.. Inthe last 23 years, I've "just been lucky" to see my $180,000 purchase reach a market value of approximately $800K. It didn't go up like a rocket ship and sometimes its value declined, but you get the picture. When the mortgage is paid off (eight more years), I live in it essentially for free, except for $6,000 in property taxes which are deductible from income. This question was posed on this board yesterday, but no one answered it: How, exactly, does one calculate the "return" or the "investment value" of living in FREE housing for what could amount to several decades of one's life? (And seeing your property value continue to increase at least somewhat during those later years?) On top of this, the accumulation of wealth in this country requires keeping as much of your earned money as you can OUT of the hands of the IRS. Renting is no way to accomplish that. (Again, I acknowledge that renting is the best option for some people under some circumstances, however.