Not so much a goverment handout thing. Most of these guys rather rent for $1000/mth than have a $3000/mth mortgage.
Think about it: $36,000 a year OR $12,000? It's a no brainer. You'll never get a $36,000 appreciation by next year. You'll never get a $108,000 appreciation in 3 yrs. I'm using a single family home in my area as an example.
Oh yeah, I didn't include taxes or maintenance either. You can use any property bought 2 years ago as an example.
People are smart to know they won't get any of their money back so why not rent for less and pocket all that extra money!
It's smart thinking. Me...I'll keep paying my mortgage because I love where I am and not because I'm "hoping" a stock will go back up. lol
Think about that last line. Some people are paying their mortgage suffering becuase their hoping the market comes back.
