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I see 4 reasons and I will keep it simple. 1) the dollar cost per sq ft is nearing one of its lowest points in the last 20+ years. In essence the actual cost to buy is lower 2) the super low interest rates mean you can buy even more home for the same payment you would have been making on a similar house just a few years ago, 3) In many areas we have seen sale prices start to rise and in some instances we are getting multiple offers on homes again. Not a lot, but its happening and 4) the average cost for renting has gone up about 10% at least in my area. So, the question for you is, if it cost you less today to own a property than to rent a property and you can lock in a house payment (buying-excluding tax increases) versus paying more and more every year for a rental why would you NOT buy?
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