Cashman, I hear you and understand the frustration. I too think prices will come down, but every year that goes by moves the average opinion of this board out 2-3 years more when the drop does not meet expectations. The last round threw around 2012 quite a bit, and I’m sure that will be extended further in 2010. With that type of progress we will eventually be able to just skip the whole house thing and start looking at retirement homes.
That said, there was actually an interesting suggestion that you could up the rent paid now and start enjoying your money. If you spend 6k to 7k on rent you can probably get a pretty nice place for the next few years and see how things pan out in the market. With the cash you have I wonder if it might be a good idea to start looking for unique properties that might come one the market in the next year or two – ones that would be very desirable in any market to give you an edge if you want to sell it.
