This is the reality of real estate in Sacramento right now: Own the home for $6500+ a month, or rent something equivalent down the street for $3350. Are we betting appreciation outpaces that difference? Seems like a lofty bet to make...
@realmatt_re It’s like this in Los Angeles area too. I have been trying to buy a house for years and eventually gave up. I can rent a 2br townhouse here for $3500ish that would cost me $7000+ mortgage (including prop tax/ins) even with 20% down. Not worth it to buy.
@81PointKobe Yep, why buy in that situation. Enjoy the opportunity that 20% gives you to invest elsewhere.
@realmatt_re $7000 mortgage for 30 years just scares me. Even on a dual income, anything can happen. That’s a ton of money for a very long time. I almost bought a 1br condo in 2013 for $281k. Had 40k to my name, put it all into Apple, turned into 500k+, those condos are only worth 600k now.