noone, I don’t quite understand your logic. It sounds to me like you’re falling into the real estate trap.
For example, even if you could afford to comfortably pay $3,000 in interest, property taxes, insurance, HOA and maintenance, why would you want to? That is especially true if you can rent a similar home for $1,500 all inclusive per month. If you could save $1,500 each month by renting, your house would have to increase $18,000 in value a year to make the purchase worthwhile. I think that, in addition to reporting on general trends, the press should have compare and contrast examples of buy and rent decisions. That will help educate readers on real estate and personal financial management. I’m not sure what kids were taught in school decades ago, but I feel that few people in the general public undertand this issue clearly.
Previously, posters on this board have determined that it costs about twice as much to buy than to rent (inclusive of tax implications). I think this issue should be re-examined periodically as the market evolves. New readers of Piggington might also like to discuss the issue. I’m sure that as the market deteriorates, Piggington will attract many more lurkers and contributors.