I’m glad I didn’t bite. Back to the topic, here in the La Costa area the number of Home for Sale signs has been up for quite a while now. I think my wife and I counted something like 17 or 18 on La Costa Ave east of El Camino Real. 3 adjacent lots next to us have also recently put up for sale signs…something I haven’t seen for the past four years or so. “Let’s get out now!” the owner must be saying to her/himself.
Back to the monthly rent cost vs. monthly mortgage cost. I pay $1000 a month for a 2B/2B (and it’s gone up only $75 in the past 4 years). If I buy a similar size/age condo that’s selling up the street for $550k +/-, my monthly payment would be, I’m guessing, something like $2500; unless I went with some sort of fancy ARM or no-interest deal. At any rate, you get the point. I know that, in most cases, it’s more important to own than rent, but not when it costs 2.5x more to own. Maybe I’m missing something here.
