A young couple is trying to decide whether or not to buy a home in a hot real estate market. They're currently renting a 2000 square foot home for $2500 per month. The home they are considering pur- chasing is also 2000 square feet but would cost $500,000. To obtain the home they would be taking out a mortgage; assume that there is no down payment and mortgage interest rates are 5% per year. Homes in the neighborhood are expected to appreciate at a rate of 3% per year, but this home is quite old, with a 1% depreciation rate per year. Property taxes at 3.5% per year. Ignoring the benefits from tax savings, should the couple buy the home? Use the concept of the annual user costs of housing (as a rough guide) to explain why or why not. A young couple is trying to decide whether or not to buy a home in a hot real estate market. They're currently renting a 2000 square foot home for $2500 per month. The home they are considering pur- chasing is also 2000 square feet but would cost $500,000. To obtain the home they would be taking out a mortgage; assume that there is no down payment and mortgage interest rates are 5% per year. Homes in the neighborhood are expected to appreciate at a rate of 3% per year, but this home is quite old, with a 1% depreciation rate per year. Property taxes at 3.5% per year. Ignoring the benefits from tax savings, should the couple buy the home? Use the concept of the annual user costs of housing (as a rough guide) to explain why or why not