Henderson NV – I rent a very nice 2bed/2.5 bath condo in an upscale guard-gated neighborhood for $1,100. Market rate would be at least $1,400. Current value is about $320K so GRM at market rent would be 230 or so. Similar units last year sold at $370K. I rent not because I’m a genius market timer (just the opposite, unfortunately) but because I can’t afford the payments on a real mortgage, and I’m not willing to take out a voodoo loan.
