It’s that renting isn’t always the more affordable option people assume it is—and buying may be more realistic than it feels once you look at the full picture.

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Real estate agents report that June was the second month in a row in which high competition occurred. Bidding wars within the United States were more common than expected.

 

 

Across the country’s largest rental markets, 14 percent of renters have high credit scores, good incomes and could in fact afford to buy the median home in their market.

Homeownership and the American dream seem to go hand-in-hand. To foster this goal, Congress has consistently practiced tax legislation that favors homeowners. So much so that our tax laws discriminate against renters, giving unequal tax benefits to homeowners.

For those who don't know, here is a list of tax deduction available to the average homeowner.