SDLaw – Like you I am not thrilled about renting. However not paying property tax and insurance is not a bad thing. Again if you run the numbers I think you will see that in the long run it will pan out better. Usually the people who do well in this world are the ones who are patient and analyze things.
My wife is ALL OVER me to buy a home even though she acknowledges a downturn in the market. Every myopic article about a soft landing, or a “flattening out of value” gets thrown in my face. Her argument is that even if we buy and there is a depreciation it will come back and we will be better off in the long run.
She is slowly starting to see some light, that if we dont buy we will not “miss out” on a highly appreciating market. Also that we could SUBSTANTIALLY increase our purchasing power if things go as many predict.
The public has been subject to this barrage of real estate news and rhetoric for the past 15 years so it is going to take time for people to realize that it is “okay” to wait and that there are other paths to wealth.
In the meantime keep track of the market, learn about the area you want and just watch it.
