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

To: damainman who wrote (235071)1/5/2010 1:01:46 PM
From: grusumRead Replies (1) | Respond to of 306849
 
"if you lived in a place where rent cost you almost 2x the monthly on a 20% down 30 year fixed would you still rent?"

maybe.. rents will probably go lower. taxes will probably increase. and then there are maintenance costs and demographics (are people leaving the area). all of which have the potential to lower the value of your home.

on top of all that lending standards are tightening so that even some people that want to buy, can't. plus unemployment is likely to stay high or even get worse. all in all, a very bad environment to buy a house, even if the mortgage costs less than renting right now.



To: damainman who wrote (235071)1/5/2010 1:28:14 PM
From: patron_anejo_por_favorRespond to of 306849
 
>>if you lived in a place where rent cost you almost 2x the monthly on a 20% down 30 year fixed would you still rent?<<

No, I'd move!<G>


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