Also, it’s interesting that it’s common for people to think that renting is throwing money down the drain, but how is that any different than throwing money away on an interest-only loan? It’s no different in a flat or declining market when there’s a premium to be paid for the privilege of “ownership”, it’s even worse.

As far as tax breaks are concerned, don’t forget that additional expense of property tax and HOA fees (and the latter tends to run higher for condos).