The American dream used to be the dream of home ownership. But, if you search, you will find studies that point out that the only real reason for owning a home is pride of ownership, not the economics of home ownerships. Economics point to renting.
After all, renting is a better option for economic growth for anyone who can save.
Before rushing out to get a good buy on one of the foreclosures that is available, take time to figure out what the economy means for you in regards to home ownership.
We are currently in a deep recession that many think we should be calling a depression. Regardless of what we are calling it, this economic downturn is getting pretty long, and there is not clear end in sight. If this does become a more severe recession, can we expect another change in the housing market?
For now, as a society we seem to now want our jobs closer to where we live. Also, we seem to have gone from having one job for life to having multiple jobs over a lifetime. Changing jobs often means relocation, another plus in the rent column.
How one lives will be defined by where we live. That "deal" of a foreclosure may turn out to be completely alien to what your life style becomes. Do not rush to get in on one of those good deals.
For information on renting an apartment in Lexington Park, MD, contact Abberly Crest.