I have been one of the biggest re bears out there. I just put in my first offer. Why? After my 20% down and the tax break I would be under my current rent.
Bingo ! What part of the County are you talking about ?
This has always been the threshold I have used. We bought our first house in Clairemont near the bottom of the last cycle by using that very same logic. Except, we didn’t have 20% down. We had 5%. Because of that, buying was slightly more expensive (about $175 per month, equal to our car payment at the time) than renting with 5% down.
