We also have thrown in the towel and are thinking of buying again actually.
I feel we are throwing money away on rent – since our rent is roughly equivalent of a P&I payment(but we live closer to work), now for a number of years.
Fact is, by now we’d have been 1/4 of the way in a 30 yr mortgage if we wouldn’t have rented; and the end of the 30 yr we’d own free and clear and retire in that house and live for free (or sell it to live somewhere else with that money). We have rented, and we may continue for the next 20 years, and what we would have to show for it? no house where we can retire. That’s what I think when I am looking at buying as an “investment” – for retirement, basically.
