[quote=sdcellar]Well, that makes no sense. According to you it’s already cheaper to own your house than to rent it. I didn’t ask how low rentals have to go to make you less okay with it. Using your logic, your house could fall to zero and you’d still be perfectly okay with it (although indirectly, that would certainly drive down rents…)
Let me help, what if your house dropped in value enough to consume your down payment? (and I’ll grant that that might not happen in MM).[/quote]
That’s fine with me. If houses drop another 50%, I’ll go buy a house in CV for 50% off and rent out my current house for a profit or at least break even. Here’s an extreme example, if my house drop to $1 and a mansion in Del Mar drops to $5, and I can still rent my house for more than my mortgage, I’ll go buy that mansion and rent out my current house. I’m still OK w/ the drop. Are you still confused?
