We’ve rented since we dumped our San Diego condo in late 2004, and it certainly has NOT sucked.
We sold that condo to an investor, who then rented that same condo back to us. We never moved. It was such an odd story that the WSJ actually wrote a front-page article that included that story about us and our condo. COST ANALYSIS: that investor lost on average $6,000 in equity per month, for every month we paid him $1,500 in rent. (That condo declined in value from $405K down to $280K.)
Then we moved to Silicon Valley where we rented a 2,200 sq ft home for $2,600/month. We rented from the most successful (by sales volume) husband-wife Realtor team in Silicon Valley, yet they didn’t anticipate the housing crash. COST ANALYSIS: this landlord has thus far lost $12,000 (no joking) in equity PER MONTH, for every month we’ve so far rented this home from them. (Their rental property declined in value during that period from $850K down to less than $700K.)
