“If your clients are spending $30k a year renting; waiting for another $50k price drop becomes a factor for consideration.”
It’s not like you won’t paid that or much more to use the bank’s money to buy. But I see your point…. People think up whatever to justify a purchase.
Talking about justifications, I know someone who bought a time share for 1 week per year. With HOA and taxes it works out to $150/day (not including purchase price). The resorts you can exchange for are not in the most desirable areas and you can bid on Priceline or book on Expedia for less. His justifications:
1) That gets him and his wife out of house — forced vacation every year.
2) The time share condos you can book have kitchens so you can cook and save money while on vacation.
I’d rather book a hotel room wherever I want and eat out. I would pay the same price and not have to lift a finger.
