Re: 'Owning home not always better than renting' (June 12)
Dear Editor:
I think it is important people view purchasing a home as a long-term investment and not one of short term, as has been the case in the last several years. While people purchasing homes may be low now, keep in mind that even with home values on the decline you will never be able to purchase a home for the price people spent for one in the 1970s, '80s or even '90s.
Another benefit to purchasing a home is that if you're smart enough to get a fixed mortgage your payments will essentially never increase, while typically your income will over the course of a typical 30-year note. On a final note, I can guarantee over the course of 30 years your rent will increase. In my humble opinion, if an individual or family has the intention to live in a specific area for at least five years or more then purchasing a home should be a serious consideration. more...
