I tend to agree with the latest comments, but one should at least pay attention, research what they are purchasing, compare the financial trade-offs of renting versus buying to avoid major pain.

BTW, I purchased my first house in Clairemont in 1996. Why ?

1. Because of housing cycles (no, but I was aware of them).

2. Because the ratio of local incomes to housing prices was near a local minimum (No, But I was aware of this)

3. Because I was clairvoyant. No.

4. Because it was only about 1 car payment ($200 at that time) more than renting a townhome, and I could put 5% down, and I could afford a 30-year mortgage at about 30% of my income. Yes.

People should at least do calculation number 4 when buying their first home or when deciding when to move back into an ownership position versus renting.