“Also another common myth, especially on this forum, is that when it costs “as much to own as it does to rent” prices have bottomed.”

I see what you’re saying here Hippmatt, but I think you are misunderstanding what is meant when we talk about “as much to own as rent”. When the rent vs own calculation favors owning, it doesn’t necessarily mean the bottom, it just means that real estate isn’t the financial suicide “investment” it has been the past few years. Buying when owning costs the same as renting is not a bad idea, even if you end up with some downside depreciation, as long as your financing is stable. You may lose a bit in the first couple of years, but will likely more than make up for it eventually not having to deal with rent increases, and (someday, no idea when) appreciation.

If rent vs own is favorable next spring I plan to buy. We’re just not quite there yet.