Somebody Else Owns the Home You are Renting
Owning a home is still the American Dream. Renting is easier, but let's remember, somebody else owns the home you're renting. You are helping them achieve the American Dream and that's awful nice of you...but don't you want to achieve your own dream? You think that by renting you are saving money? You 
aren't. You are just paying someone else's mortgage, or at least part of it.
aren't. You are just paying someone else's mortgage, or at least part of it. Wouldn't you rather invest that rent money into your own home? Let us assume that the average rent in a San Antonio Texas neighborhood for a 3 bedroom, 2 bath home is $1000. Over the period of one year (12 months), you have contributed $12,000 to a person's, whom you probably don't even know, future. Last time I looked, $12,000 isn't chump change. You have saved them not only paying their own mortgage, but on taxes as well. The mortgage interest they pay (you pay) on the home, they get to claim as a deduction at the end of the year on their taxes. There aren't any tax deductions on mortgages for renters. The homeowners also get to take more of a deduction because that home is a rental and they can claim depreciation on their asset, (their asset, not yours).
Honestly, since the concept of home ownership was brought to my attention, I always thought it was better. I am taking money that I would be using for rent anyway and applying it or investing it into my own future. I love other people, don't get me wrong. I just don't see why I should be helping them achieve the American dream of home ownership and not helping myself.
You have to live somewhere and nine times out of ten, you are going to pay someone...might as well pay yourself. With home prices being at an all time low, the massive amounts of available San Antonio Homes for Sale and the ridiculously low interest rates, if you are able, it just makes sense to own your own home. But what about the declining home prices and the fears that the housing market will never be the same you may be asking.
I just say, let's put a little perspective on the entire situation. First, someone will always need a home, secondly, someone will always need to move and that same person will need somewhere to live when they get to where ever they are going. The housing market may never get to the level it was years ago, but one could say that is a good thing. Once the air clears, houses will increase in value reasonably. Will it take some time to get back there..probably....but that's ok too. Homes are meant to be long term investments which is why typically, mortgages are 15 to 30 years.
And, again...Somebody Else Owns the Home You are Renting...
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