4 Reasons to STOP renting

Last year's Housing and Economic
Recovery Act offered new homeowners
a $8,000 tax credit if they bought a
home before June 30. According to that
plan the $7,500 tax credit would be repaid
over 15 years with annual payments
of $500 added from the borrower's income
tax bill. The credit is an excellent
deal, since it offers home buyers what
amounts to an interest free loan.
But the Congress and President
Barack Obama have vowed to sweeten
that deal by extending the credit and
delaying repayment.
For first time homeowners, this promises
to be a one-time bonanza during the
best time in history to
buy a home.
Here are just some of
the reasons why the cost
of housing will probably
never be more economical.
1 Inventory of new homes is tightening.
That means there are fewer new
homes for buyers to buy. It's basic economics:
When the supply goes down,
the price goes up.
2 Congress is moving to close off the
dribble of foreclosures on pre-owned
homes. Again, with fewer houses going
on the market via foreclosure, the supply
of homes will go down and price increases
will soon follow.
3 Interest rates are fantastic right now.
The best borrowers can now get 30-year
mortgages at rates under 5 percent.
4 Obama's promised new stimulus
packages will likely extend and sweeten
deals for homeowner.
The fact is that now might be the best
time in your life to buy a home.