“This article is only applicable to certain areas of the country where it is cheaper to rent than to own.”
Well thats the thing, its supposed to be cheaper to rent than to own. How are you supposed to make money renting new properties, otherwise?
As an aside, I think the one factor more than anything else that is going to put the brakes on the inevitable crash in San Diego is all the savvy RE investors that dumped properties in 2005 and are eager to buy back in.
