As I mentioned elsewhere, I rent a 2/2 w/a 2 car garage and a distant panoramic ocean view for 1800/mo.
There is a townhouse for sale in my complex for 395k. Doing quick math, if I just put minimum down, like FHA, so as to no tie up my money, figuring out P&I, taxes, insurance and HOAs of 350/mo, I would be paying considerably higher than my rent, even w/a tax write-off. Makes no sense.
Before the bubble, the 2000/2001 price in this complex was 200k/250k.
There’s already been a short sale down the street and an attempt short sale w/postponed foreclosure on another place in this complex.
