[quote=jpinpb]CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.[/quote]
I think you should go for it. Didn’t you say you spoke Italian and had family over there?
If you think about it, the whole point of “owning” vs. renting is whether or not you control your housing costs if/when you retire.
People who are betting on price increases are simply speculating. You are not really “gaining equity” if prices are falling faster than you’re paying down the principal.
There are plenty of much more affordable places to live here and around the world. If we end up not “owning” here, it’s really not the worst that can happen. It just means moving to a more affordable place to retire.
