Homebuying Incentives Gone Wrong

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July 10, 2015

According to Zillow Research, many buyers who rushed to get a home using the U.S. government’s tax credit for first-time buyers in 2009 and 2010 would’ve been better off renting.

“Many people who took the government up on its special home-buying incentives six years ago remain in those homes and may end up making a financial killing in years to come,” writes Melissa Allison for Zillow Blog.

But right now, she adds: “Assuming a 5-percent down payment — which is common for first-time home buyers — plus other home-buying expenses, people who bought homes in 2009 would have fared $19,632 better on average by renting and playing the stock market instead.”

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