No. of Recommendations: 0
<The only advantage I've seen is that when owning a house you can equate the mortgage payment with the rent payment, and mortgage payments are fixed while rent payments only go up as the market goes up. Eventually I'll be priced out of the market, whereas if I "owned" (that is, had a mortgage) my monthly payment is gauranteed to not go up.>

Yes, your monthly payment may not go up but I bet your taxes do. So this year you may be paying $1000/month, but next year you may be paying more. Taxes almost always go up, not down. And don't necessarily stay constant. Plus repairs can be costly. New AC/furnace/coils can easily cost you $9000. (please don't ask how I know this). That doesn't count all the other things that can break --dishwasher, hot water heater, refrigerator.

electrasmom
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