Originally Posted by
Vanilla Garilla
I have to respectfully disagree greatly with this point your making. Lets take a look at my case, and some buddies of mine that have received the first time home buyers tax credit.
I am paying $600 a month rent right now, and have been for several years. When i buy a house next year, the first time buyers loan is going to allow me to actually own my own home, without having as much down, and actually have cheaper payment than what i am paying for rent. I can easily afford the $450 home payment that i am looking at, so how is this bad?
My buddies were in the same situation, wasting all their money on rent for years, and last year they all started buying their own homes, and actually have more cash in their pocket since their payments are generally lower than what they were paying for rent.
Yes their are people that do not pay their bills, and yes their always will be. But once again this is the responsibility of the consumer.