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

To: Siddhartha Gautama who wrote (28002)	3/10/2005 5:49:42 PM
From: Tradelite	Respond to of 306849

I believe Les was referring to the 1970s, and yes, it's true. I replaced apartment rent with a house payment approximately four (I think, don't remember, exactly) times higher. But that was immaterial for me at the time, and immaterial for most people who find they need more space, a different lifestyle, a different location. I did get Uncle Sam to subsidize much of the higher monthly payment I was bearing when I bought, however, and our household was in an extremely high tax bracket. If a tax advisor had been in my life at the time, he/she would have said I should buy the house, anyway. Tax advisors were telling my friends who were making as much or more than me that they should stop renting and buy. I don't know if that works out the same for most people today, but it sure worked at the time.