I’m renting, and I don’t think it’s so bad. I live in Cardiff. My place is a good size 2 bed / 2 bath with nice cabinets, nice bathrooms, and crown molding. Sure, it has beige carpet and off-white walls, and it could use more closet space. But it also has a panoramic ocean view. My unit is the entire second story of a duplex with a large 2 car (unattached) garage. I am 4 blocks from the beach — and it’s a great surf spot. There is a fancy grocery store down the street, nice shops, restaurants, breakfast places, and of course, VG’s.
What does all this cost? $2200 per month. I think that’s a great deal.
Regarding Cardiff, it doesn’t seem like house prices have come down very much here, which is frustrating for sure, but that’s a topic for a different post.