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Real Estate
Reply to "Question for renters..Aren't you tired of paying someone's mortgage?"
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[quote=Anonymous][quote] My family considers real estate a speculative investment, hers stock or bonds. Of course both are wrong[/quote] +1 None is inherently speculative, as long as the decision to purchase is based upon present and demonstrable ROI - rents, dividends or interest on bonds. Buying based on some religious belief the asset will "go up" is speculation, however. Economists don't agree on much, but with respect to the home interest deduction, they agree it has basically zero impact on homeownership rates. Eliminate the deduction and the latter won't change much. The only thing that will change and over the short term, is affordability. Prices in general would go down for a while, hence industry's stalwart opposition to eliminating the deduction.[/quote]
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