Well in general, I think a lot of us are much better off financially than we were 10 years ago. The economy hasn’t been pretty good actually, on this west coast at least. In additional, with a ultra low 30 year fixed loan with low monthly payments, I don’t see many people motivating to sell, especially if prevailing rent prices are near parity, if not more.
I know I’m better off financially than I was 10 years ago. Seems to me that in the last bubble burst prices dropped to below rent prices, now rents are rising up to monthly mortgages, so when will this one pop? When Trump gets elected? When wages drop? Even if rent=mortgage I still don’t want to be a move up buyer because of double property taxes. Time for some wine!
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