Shall we buy or never in San Diego or wait for more depreciation?

[DataAgent]

We bought a new home in Phoenix in 1982. The next year we needed to move 2000 miles away for career purposes. We decided to make the house a long distance rental. It wasn’t until 2002 (20 years) that we were able to sell that rental house for a price more than we paid for it.

Over that 20 year period, I would get a monthly statement from our property management company. Almost every month we received a surprise expense: clogged toilet, broken fence, roof blew off etc. And those expenses were just the ‘normal expenses.’ Sometimes we needed to replace interior doors because the departing tenants kicked holes in them or repair the A/C because an angry tenant destroyed it (he thought his electric bills were too high).

Don’t ever do a long distance rental. It ain’t worth the headaches.

[UCGal]

Add me to the chorus about out of state rentals… We did that with the house my husband owned before we met… What a nightmare. Steady stream of money going out in repairs. Every vacation back there (to visit family) had my husband spending time doing repairs/upkeep.

Never again.

[UCGal]

Add me to the chorus about out of state rentals… We did that with the house my husband owned before we met… What a nightmare. Steady stream of money going out in repairs. Every vacation back there (to visit family) had my husband spending time doing repairs/upkeep.

Never again.

[UCGal]

Add me to the chorus about out of state rentals… We did that with the house my husband owned before we met… What a nightmare. Steady stream of money going out in repairs. Every vacation back there (to visit family) had my husband spending time doing repairs/upkeep.

Never again.

[UCGal]

Add me to the chorus about out of state rentals… We did that with the house my husband owned before we met… What a nightmare. Steady stream of money going out in repairs. Every vacation back there (to visit family) had my husband spending time doing repairs/upkeep.

Never again.

[UCGal]

Add me to the chorus about out of state rentals… We did that with the house my husband owned before we met… What a nightmare. Steady stream of money going out in repairs. Every vacation back there (to visit family) had my husband spending time doing repairs/upkeep.

Never again.

[Sandiagon]

I will suggest you to buy, if you live 5 years. House value will appreciate on dollar value from present price comparing with inflation.

[Sandiagon]

I will suggest you to buy, if you live 5 years. House value will appreciate on dollar value from present price comparing with inflation.

[Sandiagon]

I will suggest you to buy, if you live 5 years. House value will appreciate on dollar value from present price comparing with inflation.

[Sandiagon]

I will suggest you to buy, if you live 5 years. House value will appreciate on dollar value from present price comparing with inflation.

[Sandiagon]

I will suggest you to buy, if you live 5 years. House value will appreciate on dollar value from present price comparing with inflation.

[werewolf34]

You’re basically making an inflation bet. Do some research and see what you believe about inflation and hard assets (RE being one).

You can be priced out of a neighborhood / city over time (SF in the 2000s). If you’re sure you want to come back to SD / CA at some point, look for an asset (smaller house) which pencils better than that McMansion with the Mello Roos. That way you’re not stuck for as much out of pocket each month between now and then.

Every lever in govt has been thrown to prop up housing prices. You may see declines but I dont think they will be large enough for housing to ‘make sense’

[werewolf34]

You’re basically making an inflation bet. Do some research and see what you believe about inflation and hard assets (RE being one).

You can be priced out of a neighborhood / city over time (SF in the 2000s). If you’re sure you want to come back to SD / CA at some point, look for an asset (smaller house) which pencils better than that McMansion with the Mello Roos. That way you’re not stuck for as much out of pocket each month between now and then.

Every lever in govt has been thrown to prop up housing prices. You may see declines but I dont think they will be large enough for housing to ‘make sense’

[werewolf34]

You’re basically making an inflation bet. Do some research and see what you believe about inflation and hard assets (RE being one).

You can be priced out of a neighborhood / city over time (SF in the 2000s). If you’re sure you want to come back to SD / CA at some point, look for an asset (smaller house) which pencils better than that McMansion with the Mello Roos. That way you’re not stuck for as much out of pocket each month between now and then.

Every lever in govt has been thrown to prop up housing prices. You may see declines but I dont think they will be large enough for housing to ‘make sense’

[werewolf34]

You’re basically making an inflation bet. Do some research and see what you believe about inflation and hard assets (RE being one).

You can be priced out of a neighborhood / city over time (SF in the 2000s). If you’re sure you want to come back to SD / CA at some point, look for an asset (smaller house) which pencils better than that McMansion with the Mello Roos. That way you’re not stuck for as much out of pocket each month between now and then.

Every lever in govt has been thrown to prop up housing prices. You may see declines but I dont think they will be large enough for housing to ‘make sense’

[Author]

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