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You are correct.....unless rents decline.
Jul 08 11:39 am
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All Comments by cobblestone »What's Driving Single Family Home Investors? [View article]
On Jul 07 06:50 PM PseudonymName wrote:
> I bought a condo at the end of 2008 in Oceanside, San Diego County,
> CA. Why? Because the 3 bedroom apartments across the street were
> renting for more than my monthly payments are.
>
> Now I own my own place - 3 miles from the beach in SoCal and I am
> paying less than the folks in the apartments across the street to
> live there not to mention that I have way more Sq Footage and a two
> car attached garage to boot.
>
> When you can own your own place for less than the cost of renting
> - it is time to buy.