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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (1671)2/19/2002 8:04:13 PM
From: MulhollandDriveRead Replies (1) | Respond to of 306849
 
Well you know there are rent "caps" in the West LA...he has been there approximately 4 years. The same apt. today would be approximately $1000, that is why I used that figure.

So you tell me...which is better for him in his current situation....buy a dump fixer upper dump in W. LA for $300K putting $20K down (which of course he has and then some) or do you think he should continue to rent?

My scenario factored in tax savings. But he is in a high tax bracket so it might not be quite "so bad" as the buying v. renting scenario I entered depicts. Either way, he loses money if he tries to sell in 5 years IF prices continue to accelerate at the current average.



To: Tradelite who wrote (1671)2/20/2002 9:57:11 AM
From: MoominoidRespond to of 306849
 
You can get a huge 2 bed in Alhambra (just south of Pasadena) for that - very nice location, reasonable apartments. Had a friend living there last year. LA really seemed to have very reasonable housing costs. I have another friend living in West LA - tower building near La Brea - $1000 a month...


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