Rent or Buy: History Will Judge

The Wall Street Journal recently ran a story with an ominous headline: "The New American Dream: Renting."

Your blogger says ominous for reasons obvious to him: This is by any measure THE TIME to BUY a home in Fairfield County. Why?

* Interest Rates remain low--5.5%
* There are lots of homes to choose from
* Sellers are still wheeling and dealing

The article notes that the government, behind and in front of the scenes, has been manipulating home ownership in this country for the past 75 years, falling in the first three of four decades. After this, home ownership has skyrocketed.

The formation of government agencies that insured inexpensive mortgages started Americans down the trail. Then, ending red-lining in vast neighbors continued the process.

Today, the question remains: Rent or Buy. Your blogger says: Renting is for losers, buying remains the American dream. Just expect to buy somethings a lot smaller than you want; trade up in a few years; get your dream started--annual property tax deduction, annual mortgage interest deduction, and NO increases in your monthly payments if you have a fixed-rate mortgage (unlike renting).

Due call to discuss/argue: 646 734-8525!