2 Answers

If someone can get an 'interest only' mortgage the monthly repayments are likely to be less than renting, at least while interest rates are low as at present. How these borrowers will mange when interest rates increase, as they will, remains to be seen.

the original American dream . still do able if grandma left the cocaine and heroin alone and mended her cotton panties. saving every extra penny for your inheritance. most newer homes these days wont even last that long. if your credits good you may want to invest knowing that if and when you find mortality or the spiral of ailments that take you there. your home need never be paid off with lenders popping up to re-finance and you can always reverse your mortage to free up some cash flow for travelling before the diapers go back on. even when they do government created healthcare will make sure you have nothing to worry about , unless you have children who want to fight over your American dream. then you wont feel so bad to know that fort knox has no gold and the paper notes made so popular in the original colonies have no worth.  a roof over your head and a place to put your junk and you family, sometimes even a displaced friend or two depending on if they left the cocaine alone can be a very valuable resource. it is strange how qualifying yourself for a house payment is like a right if passage for so many. I am however wondering where to pitch my tent this evening.