[gn]

Asianautica, thanks for posting the house on 8470 Pallux Way.

With a 20% down payment, the total cost of ownership (mortgage + property tax + insurance – tax deduction) of this house is about the same as renting.

With that said, I think the following is going to occur:

1. Prices will go down a bit more & become attractive for investors to scoop them up.
2. The increase in the rental supply (b/c investors rent these houses out) will result lower rents.

#1 & #2 will repeat in a vicious cycle. I think the early investors will lose money because lower rents effectively create a new “floor” for prices.

The bottom for houses like the one on Pallux Way: $200k – $250k

[gn]

Asianautica, thanks for posting the house on 8470 Pallux Way.

With a 20% down payment, the total cost of ownership (mortgage + property tax + insurance – tax deduction) of this house is about the same as renting.

With that said, I think the following is going to occur:

1. Prices will go down a bit more & become attractive for investors to scoop them up.
2. The increase in the rental supply (b/c investors rent these houses out) will result lower rents.

#1 & #2 will repeat in a vicious cycle. I think the early investors will lose money because lower rents effectively create a new “floor” for prices.

The bottom for houses like the one on Pallux Way: $200k – $250k

[gn]

Asianautica, thanks for posting the house on 8470 Pallux Way.

With a 20% down payment, the total cost of ownership (mortgage + property tax + insurance – tax deduction) of this house is about the same as renting.

With that said, I think the following is going to occur:

1. Prices will go down a bit more & become attractive for investors to scoop them up.
2. The increase in the rental supply (b/c investors rent these houses out) will result lower rents.

#1 & #2 will repeat in a vicious cycle. I think the early investors will lose money because lower rents effectively create a new “floor” for prices.

The bottom for houses like the one on Pallux Way: $200k – $250k

[gn]

Asianautica, thanks for posting the house on 8470 Pallux Way.

With a 20% down payment, the total cost of ownership (mortgage + property tax + insurance – tax deduction) of this house is about the same as renting.

With that said, I think the following is going to occur:

1. Prices will go down a bit more & become attractive for investors to scoop them up.
2. The increase in the rental supply (b/c investors rent these houses out) will result lower rents.

#1 & #2 will repeat in a vicious cycle. I think the early investors will lose money because lower rents effectively create a new “floor” for prices.

The bottom for houses like the one on Pallux Way: $200k – $250k

[gn]

Asianautica, thanks for posting the house on 8470 Pallux Way.

With a 20% down payment, the total cost of ownership (mortgage + property tax + insurance – tax deduction) of this house is about the same as renting.

With that said, I think the following is going to occur:

1. Prices will go down a bit more & become attractive for investors to scoop them up.
2. The increase in the rental supply (b/c investors rent these houses out) will result lower rents.

#1 & #2 will repeat in a vicious cycle. I think the early investors will lose money because lower rents effectively create a new “floor” for prices.

The bottom for houses like the one on Pallux Way: $200k – $250k

[gn]

Right now, mortgage is quite similar to rent, even w/ 0% down. With 20% down, you're well under the rental rate of the area.

Asianautica, can you give an example of a rental listing & a similar MLS listing to support this ? While I have no doubt that this will become true, I don't think that MiraMesa is there yet.

[gn]

Right now, mortgage is quite similar to rent, even w/ 0% down. With 20% down, you're well under the rental rate of the area.

Asianautica, can you give an example of a rental listing & a similar MLS listing to support this ? While I have no doubt that this will become true, I don't think that MiraMesa is there yet.

[gn]

Right now, mortgage is quite similar to rent, even w/ 0% down. With 20% down, you're well under the rental rate of the area.

Asianautica, can you give an example of a rental listing & a similar MLS listing to support this ? While I have no doubt that this will become true, I don't think that MiraMesa is there yet.

[gn]

Right now, mortgage is quite similar to rent, even w/ 0% down. With 20% down, you're well under the rental rate of the area.

Asianautica, can you give an example of a rental listing & a similar MLS listing to support this ? While I have no doubt that this will become true, I don't think that MiraMesa is there yet.

[gn]

Right now, mortgage is quite similar to rent, even w/ 0% down. With 20% down, you're well under the rental rate of the area.

Asianautica, can you give an example of a rental listing & a similar MLS listing to support this ? While I have no doubt that this will become true, I don't think that MiraMesa is there yet.

[gn]

One of the couples in this story, Robert & Yvonne Cromer were featured in this story in 2004 (when things were still booming).

http://money.cnn.com/2004/05/12/real_estate/investment_prop/tycoon_cromer/index.htm

[gn]

One of the couples in this story, Robert & Yvonne Cromer were featured in this story in 2004 (when things were still booming).

http://money.cnn.com/2004/05/12/real_estate/investment_prop/tycoon_cromer/index.htm

[gn]

One of the couples in this story, Robert & Yvonne Cromer were featured in this story in 2004 (when things were still booming).

http://money.cnn.com/2004/05/12/real_estate/investment_prop/tycoon_cromer/index.htm

[gn]

One of the couples in this story, Robert & Yvonne Cromer were featured in this story in 2004 (when things were still booming).

http://money.cnn.com/2004/05/12/real_estate/investment_prop/tycoon_cromer/index.htm

[gn]

One of the couples in this story, Robert & Yvonne Cromer were featured in this story in 2004 (when things were still booming).

http://money.cnn.com/2004/05/12/real_estate/investment_prop/tycoon_cromer/index.htm

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