[john67elco]

But I wasn’t ready to buy during that time, I was putting wife through 8 years of college. The problem besides would’ve could’ve should’ve is the present time. I will lose more buying now than in a bit for sure due to people are already having to come down off list price and paying 1/2 of full closing cost. Used to be homes sold in 1 week well over the asking price, paid no closing cost, and tone of bidding wars was occurring. So in my view market has already come down. The list price just hasn’t.

Also I just did a roof inspection today on a HOA in San Diego. Older condos on Navajo rd West of the 125 fwy (Lake Murray HOA), about 20% of those babies are for sale at the moment without buyers. 1 Year ago they would be long gone and wouldn’t have that much competition between other condos due to tons of investors buying most of them up. It all just looks like down then up is all.

[john67elco]

My post shows I 100% would have more money renting than buying even if the market goes up 3% a year for 7 years. I would still lose $36,000 in that 7 year span. If the new home did not go up in value I would have lost $110,000 in that same 7 years. Depens on how much aof a risk taker you are. If it was me (being married with no kids and 0 debts) I would sell 100%, but thats just me. Have the equity and run is well worth it. I just sold my (unwanted) California City property dirt lot without electricity on it for $35,000. Everyone involed said “take it and run”, thank god I did. Lot now in same tract is selling for $25,000 list price.

[john67elco]

After more research, if we buy now we would lose over $36,000 over 7 years and thats with tax deductions, market going up (not down), reselling home fees. Market would have to keep going up also for me to only lose that much. I would be dumb to buy in this market even though we have been waiting 2 years for the market to shift. But if we continue to save $3,000 a month like we have been doing for 2 years and the market to come down, we could meet in the middle and not pay higher property taxes and PMI. It would still be better even if the intrest rates went up a whole 2% during the span. So we will keep renting and saving and not add to the stupidity of the outrageous market.

Who would ever think its cheaper to rent than buy? Haste does make waste. WOW thats a $36,000 loss even if it appreciated to $555,000 with $184,000 in equity in that 7 years. Thank you ALL for all your time for input i’m staying. 🙂

Some stats that I got from the rent verses buy calculator.
http://www.forsakencraft.com/MortgageCalculators.doc

And if it had 0% appreciation we would have lost:
Renting will cost you $116,651 less than owning over the 7 years, in today’s dollars.

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