Originally Posted by
GrenadeCRX
That interest on that mortgage payment along with those property taxes would be tax deductible. The real out of pocket costs would probably be around 65-75% of the total bill. As opposed to the total rent that you would receive no tax benefits for in an apartment.
Plus... there is no fucking way that the housing market would CONTINUE to tank another 25% on top of what it is today... unless you live in Detroit.. in which case fuck you and move. You don't buy a house if you plan on moving every 3 years.. and 30 year loans are for the retarded.
I do financials for a living too... I would break out an amortization schedule for you.. but I usually get paid for teaching the fiscally retarded.
You said it... Don't buy a house if you plan on moving. Like I said before I do. Plus, you say there is no way the housing market will continue to tank yet it currently is and nothing has changed to make me think it's going to get better. Also tax benefits/deductions for single guys with no children making over $50k a year are very small.