[quote=CDMA ENG][quote=Rich Toscano]BTW, a sneak preview of the valuations… as of last month, price to income and price to rent ratios were both within 2% of their historical median values.[/quote]
Very interesting. I am shocked about rent ratios because, being a renter, it feels like I am paying inflated prices and I am begining to rationalize a home purchase.
Well that and because the wife needs a nest… :p
Can’t wait for the new data Rich. As always, thank you.
CE[/quote]
Precisely why so many of us bubble-sitters have bought the past few years. It’s not that we feel it’s the bottom of the market, but since they can make this game go on for longer than any of us can stand, we begin to rationalize a purchase because PITI/rent parity is pretty close with these ridiculous interest rates, and cash is earning next to nothing. All the while, you have to pay rent for years as they continue to manipulate the housing and credit markets and kick the can down the road.
Best of luck in your house search, CE. I really feel for anyone who is trying to buy an owner-occupied house these days. 🙁
