In the Las Vegas home market the one guarantee is that the cost of renting will continue to rise. The attached graph shows the increased cost of renting for longer than 30 years. That sure looks awfully painful to be a renter. When you are a homeowner your mortgage remains the same for 30 years until it become zero once paid off. Home ownership has a great way of forced saving for the future as long as you simply just don’t refinance. Also check out Harvard’s 5 Financial Reasons to Buy a Home.
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