I’ve been eying an REO that is 40% off its Feb 2006 sale, it’s been lingering for a while because its a bit of a dump. If I can lock at less than 5%, I think I am going to pull the trigger. If I factor every possible expense that I can think of, including 1% for ongoing repairs, I’ll still be 10% lower than my current rent.
EDIT: Thank you, tax payers, for subsidizing my mortgage!
