5 Reasons It Could Be the Opportunity of a Lifetime to Buy a House

Posted on Tuesday, March 19th, 2013 at 4:30pm.

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There's no guarantee, of course, that home prices will escape another dip next year, especially if there's a recession or any sort of economic slowdown.  And it may take some time for real estate prices to recover fully.  But for people who can afford to buy a home and expect to stay in it for at least a decade, there's a compelling argument that the current housing market offers an exceptional opportunity.  Consider these five factors:

1.  Buying a home right now is cheaper than renting.

2.  The mortgage interest deduction is unlikely to be eliminated.

3.  Home prices are very cheap but appear to be past a bottom (at least in the East side, it has increased 7% to 18% this year).

4.  Eventual economic recovery will almost certainly boost housing prices.

5.  A substantial amount of inflation seems likely at some point (take advantage of the low interest rate now).

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