Interesting Article

[James Hiddle]

http://finance.yahoo.com/news/new-american-dream-is-renting-to-get-rich.html

[Rich Weese]

Interesting article. I would have to agree with almost everything that was written. Even with the low interest rates that are currently available, if you qualify, it is still difficult in many price ranges to find a home where the mortgage payment is much lower than what the rent would be. In many cases, when you add the taxes, insurance, maintenance, repairs, and lost value of money that might've been used somewhere else it is difficult to argue about owning a home is better.

Of course, there are other considerations. How many times will you move from a rental in the next 10 years compared to a home you own? What will this cost you?

One interesting section of the article mentioned that you would definitely lose money if you are moving every couple years. This completely depends on the economy in my opinion. When the economy was booming I used this as a method to make tax-free money. I would build a home, sell it in a couple years and all of the capital gain was tax-free. This was certainly an increase of income and not a negative situation.

I also know a lot of friends that are renting amazing homes for a lot less than what their mortgage payment would be if they could qualify to buy it. I even have one friend that is renting a home owned by an ex-NFL Redskins quarterback. He has an unbelievable deal! Rich