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

To: Wyätt Gwyön who wrote (60166)	8/18/2006 10:46:19 AM
From: orkrious	Read Replies (1) \| Respond to of 306849

there are hundreds (thousands???) of rentals here and while prices are coming down they still aren't cheaper than what it costs to stay in my condo. We can rent a decent 3000 sq ft house for $3k/month. But we may as well stay in my condo until we find the house we like. I suspect my condo isn't going to fall in value by more than $36k/year. Two years ago when prices were going nuts I looked at renting but at the time the same house would probably cost $4,000/month and I didn't think it made sense. I'm not worrying about a few thousand dollar difference. It's more trouble than it's worth to move and then move again. If I had had a big house two years ago I definitely would have sold it and rented something smaller. Taxes here are high, but only when you move. They are limited to an increase of no more than 3%/year. Taxes now on my condo (purchased 15 years ago) are $3,300/yr. Taxes on an $800k house are $12-$15k/year.