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Ownership trumps renting

March 24, 2008

While renting may make sense for someone who expects to move in the next year or two, ownership continues to be a wise, long-term investment. Consider these financial benefits: Deductions on your annual income tax return, locked-in payment with a fixed rate mortgage, home price appreciation if you plan to live there for a few years, and a monthly mortgage payment comparable to rent payments. House values in the past decade have risen 88 percent on a national average, according to National Association of RealtorĀ® research.

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