Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University, (he also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate), this year he released a new paper on homeownership - The Dream Lives On: the Future of Homeownership in America. In his paper, Belsky reveals five financial reasons people should consider buying a home.
Here are the five financial reasons to buy a home from the study:
- Housing is typically the one leveraged investment available.
- You're paying for housing whether you own or rent.
- Owning is usually a form of forced savings.
- There are substantial tax benefits to owning.
- Owning is a hedge against inflation.
Follow the link for excerpts from the study for each reason on the Keeping Matters Current blog Harvard: 5 Financial Reasons to Buy a Home, or visit the study directly in the link at the top of this post.