[quote=birmingplumb]I am holding off buying until rents equal the mortgage payment. Dr Housing Bubble swears prices must adjust to rents. But then again it is San Diego so add the wild card.Gunslinger is correct, 2 years ago. 400k would buy 8 50k rentals in Holly Michigan with city water /sewer. Rent 800 plus each. Taxes at 200 mo . 600 x 8 4800 minus repairs . way over 10%.
30 miles north Detroit within commuting. I passed on these due to my job @ 15k gross month equals 25 rentals income and no hassel.But its there for you/ but 400k to lose money ?[/quote]
Unfortunately, you’re daughter is renting in an area where rental is in high demand due to the proximity to Sorrento Valley tech center. Short of something catastrophic to said the major tech companies there (*cough* qualcomm *cough*), it’s unlikely this will subside. There is a huge luxury condo complex being built at the end of Mira Mesa Blvd/I-15. I am pretty sure that whomever owns that complex has done extensive research into this submarket, probably with more data than any of us combined. And folks that scoffed at the new Pardee SFH and attached communities off of Flanders have been pretty much been proven wrong… Most phases are sold out….
