Has the housing crisis scared you out of the market? Too bad, because there are still
many good reasons to buy, writes Brett Arends in the Wall Street Journal. A few points to consider before hopping on the first train to rents-ville:
- You could get a deal: Prices are down—way down. "This is a buyer's market," Arends writes, especially if you're willing to play hardball. Could prices drop more? Sure. But that "doesn't really matter so much in the long haul."
- You'll save on taxes: Usually, "the breaks are more valuable the more you earn, and the bigger your mortgage," Arends says. So run the numbers—you could save on income, real estate, and capital gains taxes.
- You won't be starved for choice: You want a house? Take your pick. There is a "glut" of homes in America. That means lots of choice and, usually, lower prices.
- It offers some protection from inflation: Studies show houses tend to beat inflation, at least by a bit. "It's not perfect," the Arends notes, but it can be "valuable inflation insurance," especially if you're young and "thinking about the next 30 or 40 years."
Click
here to read the complete list and
here for 5 ways to buy a cheap home.
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