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

To: David Jones who wrote (5287)	9/13/2002 4:53:36 PM
From: John Chen	Respond to of 306849

David Jones,re:"800K for a 3 bedroom"..Still, no inflation.

To: David Jones who wrote (5287)	9/13/2002 4:53:59 PM
From: Elroy Jetson	Respond to of 306849

I arrive at a similar cost for an $800k home for different reasons. $56,800 7.10% Mortgage 100% 30 yr Fixed, Interest only $12,000 1.50% Property Tax ($20,640) -2.58% Welfare Benefits @ 30% $6,000 0.75% Maintenance $54,160 6.77% Total $4,513 Monthly This eliminates the self-confusion of: lost opportunity cost on down-payment; forced saving program of loan amortization; taxes and maintenance. This deliberately excludes insurance, as this cost remains similar in other scenarios such as renting.