While I agree with your basic – Piggington's Econo-Almanac

November 6, 2008 at 4:02 AM #300379

Participant

While I agree with your basic thesis, the one thing I would add is the investment dimension.

For the people buying for the purpose of renting the property out, the magic number I am seeing is 8% return on their investment annually.

If someone feels that they are getting about 1/12th of their money back each year, that seems to make sense for them.