In the past it was common for most people to believe that purchasing a home was the smartest financial choice possible. You invest in the property, improve or maintain it, earn equity in it, and enjoy all of the tax benefits that come with a mortgage or second mortgage.
When the subprime mortgage crisis struck around 2008, however, people began to wonder if this classic model of financial savvy was still true.
So, is it? A recent article in Business Insider has one very solid answer about that. When posing the question of whether renting or buying a home makes more sense, author Megan Durisin said that it boils down to a single factor: location.
It's Still About Location, Location, Location
The old real estate comment about the significance of…