[lbo-talk] buy v rent/ tax break?

[shag carpet bomb]

ha! yeah. I'm already in love with it. It's 1920s arts and crafts home 
that's been beautifully maintained by artists. Arts and crafts built-ins 
(book case and writing desk), limestone fireplace, heart of pine flooring 
in bedrooms, original mahogany columns, cross beamed ceiling in the 
library, diagonal mullioned windows, hot tub and garden retreat. So, I want 
the house in every other way, the tipping point really is $. Right now, I 
flush $1800/month down the toilet for rent.

It turns out that I don't need to pay PMI, so wahoos! The mortgage is less 
than the rent.

Meanwhile, I can't freaking believe that this market is so down. WTF is 
going on. These places are going for $25k-$100k less than a year ago. It's 
true that this market never suffered initially, where I'm living now. It's 
a huge military area and people are constantly moving in and out with 
government backed loans, and housing allotments from the mil to supplement. 
4 years ago, the market was stale, but people weren't losing money. They 
just weren't making what they planned on making by selling in  6 months or 
a year.

At 12:34 PM 7/17/2011, Jordan Hayes wrote:
>Anyway, I think you get the idea about the tax implications; but I hope 
>it's also clear that it's not the only input to a decision like buying a 
>house.

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