1. $8,000.00 tax credit
2. About 800,00 new households are formed each year in the country, insuring that the housing market will tighten, even if the economy doesn’t soar.
3. Put $10,000 into the stock market and it earns 10 %, you’ve earned $1,000. $10,000 down on a home and its values increases 10 percent, you’ve made $10,000.
4. When prices come back up, you’ll have instant equity.
5. Mortgage costs stay the same on a fixed mortgage–while everything else goes up, including rent.
6. You own it. There is something comforting in the notion that your home is your own. The can have a dog, paint the house any color you want and have all the company that you want.

Source: Wall Street Journal, (03/27/09)