by Patrick ➕follow (59) 💰tip ignore
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What goes on in the Bay Area regarding rents not covering the monthly nut of the landlord is a outlier in comparison to the rest of the country.
I don't think most people buy with an idea of leaving in 2 years. Life happens and things out of your control can force one to sell and move. If any of us had bought in 2005/2006 with the idea of long term in mind, we'd be barely breaking even right now, 12 years later.
PrivilegedtobeWhite saysAnd if you run the numbers now, no one should buy. Oh wait, it's different this time ;)I don't think most people buy with an idea of leaving in 2 years. Life happens and things out of your control can force one to sell and move. If any of us had bought in 2005/2006 with the idea of long term in mind, we'd be barely breaking even right now, 12 years later.
Yep--unexpected things happen. But if you ran the numbers in 2005/2006 you never would have bought in the first place,
And if you run the numbers now, no one should buy.
PrivilegedtobeWhite saysTrue. I was generalizingAnd if you run the numbers now, no one should buy.
Might be OK in a lot of places away from the tech money.
And if you run the numbers now, no one should buy. Oh wait, it's different this time ;)
It really depends on your time horizon. If you're planning to stay for 7+ years, then with rare exceptions (in the BA maybe, I don't know), it will be better to buy.
It is much different now than 2005/6 though--the price/rent ratio is pretty normal in the US.
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