Cal Housing Bubble May Burst Soon (tags)
The basic rule of thumb that if you cannot afford to itemize deductions on your income tax form, you cannot afford a house is as true today as ever. A house is just forced savings and if you do not need the tax write-off, you are better off renting. The World Socialist Website has a good analysis of the pending bubble burst of the California housing market, which means now is a good time to sell if your house is not a tax writeoff.