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thanks host and ace for your tete a tete... very informative.
and yes, I agree about the housing market demand outstripping the inventory. there are many people out there who do own multiple properties but don't rent. many people in NYC have a city dwelling and a country dwelling. so there are a good number of housing that doesn't make it into the rental inventory.
right now in Vegas there is an interesting point wherein rents and mortgates are about equal, downpayments are disounted heavily in some cases to 1% down. So the Vegas market seesaws back and forth.
Now the biggest benefit that I'm a firm believer in is that more often a home owner is a better community member than a renter. Home owners have more of a stake in community since their values are tied to community health.
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