I look at the cost benefit analysis of buying a home, and it just doesn’t seem like it is there to me.

Yeah you can claim the interest on your income tax as a deduction… guess what, you still paid those taxes out of pocket, and it doesn’t come anywhere near making up for the deduction.  Money down the drain.

Insurance, money down the drain.  Repairs and upkeep, money down the drain.  Taking out an interest charging loan for hundreds of thousands of dollars and paying it over the course of 30 years just doesn’t seem prudent to me.   I’m of the general opinion that borrowing money and paying interest are things to be avoided.  Necessary at times of course, but if avoided, all the better.

Not to mention, we’re paying $885 for a 1000 sq ft apartment with gated, covered parking, hot tubs, tennis courts, full fitness centers, someone is here all during the day to accept and hold packages, the location is wonderful, I need only take my garbage as far as my front door, where the trash pick up concierge service does the rest.

Where the fuck could I find a property in the same location with the same benefits, same amenities, for $885 a month including the principle pmt, PMI, interest, insurance, taxes, upkeep, etc etc?  Its impossible!

Meanwhile, I’m spending a paltry $450 in rent for all that stuff and my extra money goes into an interest bearing account, that is MINE, that i can access at any time or move into other investments.  Meanwhile, the money you pay towards you mortgage that builds you equity is stuck in your home, and all the while the housing bubble is collapsing.  Not a chance in hell your equity is going to go up these days.

Friend of ours bought a studio in Spire for $250k when it opened.  its worth $170k now.  He’s fucked.

Nah, we’re gonna stay renting for a while.  simple living, no headaches, low payment, save a ton of money and get a ton of amenities.  We can move whenever we like.  Its swell.