Final thoughts for our friend in Escondido. You wanted 50-75k in "equity" five years henceforth, in order to buy a place in Denver. Well, had you rented a nice place for $1750 a month and saved the other $1750 you are going to spend on your mortgage, etc., you'd have saved up $105,000 over the next five years. The loss of tax deductibility of mortgage interest would have some impact here, however, I think it is plain to see that you blew it. Oh well. Someone here said it best: "it's your money" , only I'd have put it like this: "it was your money".