At this time, when housing prices are starting to rebound and interest rates are still very low, a lot of people are saying that you should buy a house in 2013. But is homeownership the right choice for your finances? The answer of course, is “it depends.” However, for many of us there is a… Read More
Though the housing market has made significant strides over the last year or so, many experts believe it will continue to improve in the short term. However, new data also shows that it could continue to do so decades into the future as well. A combination of baby boomers aging into retirement, exploring more housing options… Read More
During the arduous and acrimonious debate over the fiscal cliff, one potential part of the solution that has come up often is the elimination of the mortgage interest tax break. And while many lawmakers treat it as a sacred cow, it turns out the majority of consumers don’t take advantage of it. The average deduction… Read More
Although these studies indicate a correlation between homeownership and general well being, it is unclear how other factors may For example, homeowners in general are more likely to have higher incomes and higher levels of education than other consumers.
Of course all these benefits come crashing down when a homeowner is stretched too thin. Here in San Francisco, where average home prices are around $600,000, homeowners likely report more stress problems than self-esteem perks. A 30-year mortgage for $600,000 calculates as a $4,000 a month loan payment, which is stressful to even think about.