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I am 25. I have a great job. There is no where I am willing to move that I can afford. And even places that I am not interested in, the taxes are too high. Owning where I am is next to impossible.
I look at it this way. I may be renting and losing the opportunity to gain equity on a piece of property. However, I spend less money on rent than I would on a mortgage. Therefore, instead of having no savings and a home (that the bank owns), I have a place to live and a growing savings/portfolio. At this point in time I will take that over the opportunity to own something that may not see any rise in value for at least a few more years. I will be purchasing within the next 5 years.
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