I pulled this article off of Ramit’s website, but I think it makes numerous incorrect arguments.

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1) You have to live somewhere. So paying your PITI (principle, interest, taxes, and insurance) should not be calculated as a cost.  Rather, you should calculate the marginal cost or the difference between your PITI and your expected rent payment. Furthermore, unless you are living at your parent’s house, there are unexpected costs for renting.   You are still making repairs to your rental property and if not, the cost of repairs are accrued at the end by the loss of your deposit.

2) The article mentioned that you have not calculated the costs of remodeling, updating, or capital improvements to your property.   These are investments that improve the value of your property and yield a return on investment in sweat equity when the property is sold.

3) Tax benefits.  Unless you are paid under the table, you are able to write off your interest and a variety of expenses for your primary residence.  This often amounts to a couple thousand a year in tax savings.

The article does reiterate an important point that buying in a bad market can result in significant finance losses.  Buyer beware.