On 5/1/07, Shyam Visweswaran <[EMAIL PROTECTED]> wrote:
I am currently looking for a home and have been doing some
reading. With respect to the US, till around 2001, the value
of a home bought a century ago remained even when adjusted
for inflation. I have a reference somewhere for it. Since 2001
there has been a real estate bubble which has started
correcting about a year ago. It is expected to take 6-8 years
to correct completely. Whether the correction will lead to
the much ballyhooed US economy meltdown remains to be seen.
I am in the market for buying a house as well. I need a roof over my
head, and I could either acquire this roof through renting or buying.
There is no value preservation or appreciation with renting. While
buying gives me some nice tax breaks (and induces some fiscal
discipline). Even if the market turns south in a few years and I have
to sell my house at a reduced value, I will still be getting back some
of the money I invested rather than none.
Thaths
--
Homer: He has all the money in the world, but there's one thing he can't buy.
Marge: What's that?
Homer: (pause) A dinosaur.
-- Homer J. Simpson
Sudhakar Chandra Slacker Without Borders
