If you didn’t buy in 2013, you may want to reconsider putting off buying a home another year. Home prices in the US climbed by 13.6% over the last 12 months according to Standard & Poor’s/Case-Shiller 20-city home price index.
Real estate forecasters predict that 2014 will be another great year. Home prices are predicted to rise another 5% next year according to Weinstock. Higher mortgage rates will slow both sale and price gains to a certain extent but will not bring them to a halt. Weinstock says that aside from predicted price gains, buying a home is always a wise investment long term.
Here is something to consider per Weinstock “When one rents, at the end of the year he or she has a pile of 12 cancelled rent checks, however, the homeowner has a pile of 12 cancelled mortgage checks that are nearly fully tax deductible in most cases.
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