Why do you NEED to buy something in your price range of $1 million to $1.5 million? Why don’t you buy the house you want and then worry about price later? Is there a need to own a “million dollar” home that if depreciation continues may not be a million dollars when you sell (or gasp! foreclose)? Seriously, wouldn’t it be better to have more money to spend on things like cars, vacations, computers, education, etc. rather than tying so much money in a house? Why do Californians pay $1 million for a 3,000 sq foot house when in most other parts of the country that house would be $500k?
