Re: Buying house, interest only loan the way to go?
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Renting is much better for me at the moment as well, mainly because I currently have a roommate so that cuts my rent and bills in half.
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Including the roommate in your equations is wrong. If you own a home you can also have a roommate who pays you rent and still splits the bills.
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The above calculation does not take into account if you will have any roommates paying you rent, so if you do, that may swing things in your favor.
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The US Tax code is not something I'm intimately familiar with but if he has roommates paying him rent that would increase, not decrease, his tax payable since he now has a new source of taxable income.
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