“It seems like 90% of the people who post here are renters waiting for prices to fall”

This may certainly be true, but don’t forget, there are many other reasons why people rent besides the pure economics of it. Sometimes I like to delude myself on what a genius I am for not buying in 2006 when we were transferred here. This was in fact an economic decision at the time as I knew I couldn’t stay more than 3 years. To be fair, I would have to admit that if I was sent to San Diego in 2006 I probably WOULD have bought, and would be crying, $100,000 in equity gone. Sometimes it’s just not the right time.

Interestingly, because of this blog and others like it, if I were transferred to San Diego now I absolutely would not buy. I just don’t think we’re going to see enough inflation in the next few years to justify anything close to these prices. I definitely wont see anything like the necessary pay increase to be able to justify them.