Re: Owning a house.
[ QUOTE ]
[ QUOTE ]
Ken,
How much are property taxes, maintenance costs, and homeowners' fees?
[/ QUOTE ]
Also the "You can deduct your mortgage" is overrated. You already get a standard deduction of $10,300. Unless you are carrying a large note or donate lots of money to charity then it is not the steal you think it is. The appreciation should be the real reason. If you think you will be moving in the next 2 years don't waste your time.
There is a great feeling in having your oen home but you have to be ready to settle down or it is not going to work out as well as you hoped.
[/ QUOTE ]
PA,
The standard deduction issue you raise is rarely an issue with families. Also, the MI deduction is one of the few which can still be taken under AMT. This is critical for high income families.
I agree with the rest of what you said. Buying a house recently was made too easy, taken too lightly by purchasers, used as an ATM by suckers who live beyond their means, and used as a get rich scheme by fliptards.
J
|