“Renting is nothing but throwing money out the window. They’ll have nothing in the end. “
That was the war cry of the real estate agent in the booming mortgage market. Not any more. Real etate agents aren’t exactly the smartest people else they wouldn’t be real estate agents; they’d be brokers.
We sold out home at the height of last year and got a fantastic price for our home. We are renting while prices continue their decline. Why would we buy only to watch the value fall? So far we have seen values drop another $100k on homes we are looking at. Seems we saved $100k minus $9k in tax loses, so $92K or so saved. We’ll buy not before August, the typical downturn in market prices here. Watch and wait. That is the smart move.
A realtor’s advice as to whether you should buy a home is equivalent to a barber’s advice about whether you need a haircut.