Excellent summary. Home ownership will probably never in our lifetimes look like a better investment than it does now. Mortgages rates are extremely low, and because of all the quantitative easing, it's possible that we will see higher than average inflation over the next 10 years.
As a result you can basically borrow hundreds of thousands of dollars, long-term for free. Inflation offsets a fixed interest rate--and the spread is probably only about a point right now, with low inflation.
The housing market is recovering, and immigration reform could create millions of new legal customers for real estate. The only downside is that the mortgage deduction will likely be capped, reduced, or taken away as part of tax reform in the next decade.
As a result you can basically borrow hundreds of thousands of dollars, long-term for free. Inflation offsets a fixed interest rate--and the spread is probably only about a point right now, with low inflation.
The housing market is recovering, and immigration reform could create millions of new legal customers for real estate. The only downside is that the mortgage deduction will likely be capped, reduced, or taken away as part of tax reform in the next decade.