For owner self occupied purchase, PITI w/20% down equal rent is a good starting point, since the tax benefit will well compensate the 20% down payment. If you find a good one you like, you might want to jump off the fence as it’s not far away from the bottom.
For investors, PITI w/20% down equal rent will not make the property cash flow positive. Housing market will not turn around anytime soon. Investors would not like losing cashes in acquiring and keeping investment properties.
Before investors flood in, another 10%~15% price drop will be expected…
