If I buy it now… say at 500-550… vs waiting 6 more months for it to come down to 450-500… but I’m spending $1500-2000/month in rent… am I worse off for buying now vs. waiting?

We’ve all been brain-washed into thinking that renting is “throwing money away.” You need to seriously rethink this logic then the buy/rent decision will come by itself.

We are just in the first year of a downturn in real estate. 5 years into the downturn would be a more appropriate time to think of buying.