Understanding the Debate: Home Ownership v. Renting

Home Ownership Matters:

Renting versus buying—this is one of the classic debates today. Truth be told, each has their own advantages depending on the life of the person grappling with the debate. The following are the clear advantages to HOME OWNERSHIP:

AMERICAN JOBS. Home sales generate 2.5 private-sector jobs in an average year. Each sale is known to touch 80 occupations.

US ECONOMY. $60,000 is pushed into the economy for the purchase of furniture, home-improvement projects, and other related items. The housing market accounts for 15% of the GDP. Six out of eight recessions were ended largely due to home buying.

YOUR MONEY. The tax deduction savings that accompany home ownership are off-setting benefit that pushes owning a home beyond renting. Mortgage interest deductions, home equity loans, and many more options exist to assist buying a home.

“Home ownership has a significant impact on net worth, educational achievement, civic participation, health, and overall quality of life. And, home ownership helps create jobs—lots of them—right here at home.”
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Source: http://www.houselogic.com/home-advice/why-home-ownership-matters/home-ownership-matters/