Letters to the Editor
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Inflation is the biggest reason to own a house
There are many reasons that owning a home is better than renting. The tax advantage, the freedom from landlords, superintendents, the tenants on the other side of your wall that love to argue at 4.00 am, but the most important may be inflation. We have a fixed 30 year mortgage at 5.5%. The monthly payment will remain exactly the same for 30 years!. Taxes will go up, utilites and heat, but the mortgage payment itself will not change one dollar. Compare that to rents going up 5 or 6 percent a year, and you see what a bargain it is. The payment that seems large when you first get the mortgage will seem very small indeed in 10 years. I can't think of any other payment that never goes up.