I expect a further decline in prices and a flat market for 5 years. I don’t hink that this property will be worth as much as I owe for at least 7 years.
Very simple math. I may decide that it is not worth losing $6,000 a month (Mortgage, Taxes, HOA) for the next 7 years ($504,000 total) while not gaining any equity (and probably losing more).
