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February 15th, 2010 at 7:10 pm
Phil,
That was a great article on mortgages last week! However, I didn’t see the argument take into consideration that mortgage interest is a large tax deduction which would be lost by renting. In a sense, you can give that money to the IRS or have it lower the actually ownership costs. I do agree with 15yr mortgage. Also, in markets where real estate doesn’t really appreciate all that much, it makes more sense to rent. Would like to hear your thoughts on the tax piece. Thanks.