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<p>[QUOTE=&quot;NorthKorea, post: 1998877, member: 29643&quot;]I disagree on counting a home as an asset. Generally, until year 13 or so in your mortgage, you&#039;re paying more in interest to the bank than you would be paying in rent. Then, from year 13-16, you&#039;re paying about the same in interest as you would be in rent. This doesn&#039;t quite hold the same for condos, though, as you need to pay CAM and association fees, which make renting slightly more attractive.</p><p><br /></p><p>It, of course, depends on your situation, but I always view the home as an off-set liability. I can&#039;t really sell it, since I&#039;d then need to find a new one, but the money I eventually save versus renting has some value, assuming that savings is then invested.</p><p><br /></p><p>As for the refinancing issue, usually periods of refinancing of debt are followed by extended recessions, with quick acceleration of interest rates upward and a drop in housing prices. Personally, this leads me to believe that renting and saving that downpayment makes the most sense when realtors and mortgage brokers tell you the opposite.</p><p><br /></p><p>We&#039;re near all-time lows for interest rates. That also means we&#039;re near all-time highs for real estate prices.[/QUOTE]</p><p><br /></p>

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