And I also agree that if you want to buy for purely personal reasons, that’s fine. Just be careful not to kid yourself that economics make sense when there stands a very good chance they don’t.
Another example– most people don’t buy condos as their long term residence, rather it’s typically a stepping stone to a bigger house down the road. Be careful to not let that stepping stone become an anchor. If one is fine in the knowledge that they may have to hold on to it for 10 years to escape without losses, then fine, but make sure you consider this possibility.
I agree about fundamentals and I just honestly don’t believe there’s much out there that can be purchased for about the same as rent. If somebody thinks differently… got MLS? And I promise I won’t snatch it away from you (although clearly if you’re concerned, don’t share as others may gladly swoop down on it)
