We sold our house in mid-2004 for ~$400K, and rented a much larger house in a much nicer neighborhood for $2,000/mo. the first year, and $2,100/mo. thereafter — a grand total of $112,200 (just marked 4.5 years).
There is a model-match of the house we sold now listed for $190K, so we saved over $200K there. We also used some of that money to short homebuilders, banks, lenders, retailers, etc. and made a fair amount there (would have been **much** more if my timing were more precise, but that’s life).
We’ve not had to pay property tax, insurance, or interest payments on an overpriced house. We haven’t had to worry about the big maintenance bills, though we help with some of the maintenance. The big bills have added up to about $15,000+ for our LL.
The house we’re living in (and comparable to what we’d like to buy) is in one of the “resistant” areas, but it has still lost about $100K-$150K since the peak.
Now, with the economy the way it is, we like the idea that we can pick up and move any time we need/want to do so.
