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The Buy Argument

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Speaking of renting vs. buying, one recent apartment buyer breaks down his own decision to buy for Brick Underground. His argument: even with a monthly cost of $2,850, he's basically living for free, because some of his maintenance and all of his mortgage interest are tax-deductible, and he's convinced that property values in NYC will rise at least 3.5 percent every year. Agree/disagree? [BrickU; previously]