The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MSI who wrote (7484)	12/20/2002 10:44:30 PM
From: tony	Read Replies (1) of 306849

>>Now we need to foretell world events, domestic politics, general economy, personal job prospects... Compared to past years we're making the crystal ball work overtime ! You got that right. I will not buy any hyped RE in CA or other inflated area. Nothing goes up forever. Let us say 500K property 20% down 400K 30 year @ 6% Payments mortgage 2390 Tax & Ins 600 Total 3K/month Now if we rent @ 2K/month we save 1K/month. If 500k property does not crash but remains @ 500K for next 8 years. One has saved 96K. If we buy the same property now we have 100K original + 96K (rental saving) + 40K (interest from the savings (100K + 96k) approximate). One buys the above property 500K - (100K + 96K + 40K). Mortgage is for 264K only, very affordable. FWIW, I will not buy in CA unless I get real deal.

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