Another thing you must consider is that you can buy well or buy poorly and it can make all the difference in the world. Just got a call from clients who I sold a condo to in 2008. They are relocating to Dallas for jobs and cheaper cost of living. Expecting a big loss for them? Nope! I just ran the comps and they should easily get 15 to 20% more than they paid. They should cover their selling costs and still pocket a 10% gain on the property which is a 50% profit on their down payment. They rolled all the closing costs into the transaction so their only out of pocket was the down payment. Their payments were also about $200 less then they were paying in rent for a comparable place. While the bottom is not in, the worst seems to have passed. For every ugly story there is a good one these days.
