[quote=spdrun]Considering that buying is cheaper than renting most places these days, why is buying property so implausible, unless you’re looking for something in a trophy area where the buy-rent equation is f’ed?[/quote]
Because a lot of people don’t have a downpayment and a lot of people won’t qualify for various reasons. And a lot of people have a lot of side debt (student loans, CC debt,etc)…A lot of people got wiped out from Stock Market 1.0 and 2.0. And a lot of people got wiped out from Real Estate Bubble 1.0 and 1.5…And what they really need is to accumulate wealth as fast as they can…..And generally the barrier to entry for purchasing a home in California is much higher.
