[Brokinarrow]

Originally Posted by truth411

Sorry I have to disagree with you here. You are ignoreing that different people are in different stages of life. For an example, I am single, Not married and no children, I don't need 4 bedrooms and 2 bathroom and 3 car garage. Right now I am in an apartment, the benifts is that I don't have $4,000 a year of property taxes to pay. I don't have waste money on interest rates and insurance either and maintenance is much cheaper. Don't get me wrong, I have the money to buy a house at any time. But lets be real here, with ones morgage payment, roughly HALF of it goes to the actual principle depending on what type of loan you get, the other half is just burned away (intrest rates, insurance, property taxes). IMHO people should stop looking at a house as soley finacial investment, but a place one raise there family for the next 20-30 years, you can't put a price tag on that. Looking at from a strictly financial side, Renting an apartment and investing is far more effiecient, when looking at strict numbers.

But you're also not making an investment. Paying rent is just throwing away money (unless its a rent to own situation), paying for mortgage is investing it. And you don't have to spring for a huge house right away, get something that fits your needs. Or if you do have extra bedrooms, find a roomie! That way THEY can throw away THEIR money for YOUR mortgage