BobS
Contraman has it right. The cost to rent a typical San Diego house or condo is now about one-half the true cost of owning it. By true cost, I mean ALL the costs, which are typically not included by optimistic prospective landlords. They often conveniently forget the full maintenance costs, the down-time while seeking a tenant, the advertising cost, the value of their own time in maintaining it and finding a tenant, and the all-important opportunity cost of their now higher down payment which could be earning interest somewhere safe.
Add to this the still downward trajectory of the value of the place, perhaps by 1% a month, and buying to rent it out makes no sense.
