Quote:
Originally Posted by Kalista
I know, I have been so discourage to find a reasonable condo or townhouse. I hate to pay the rent to the landlord over ten years. I did not get any profit when I will be moving out from that place.  |
Believe me, had you purchased a condo, especially in the past five years of the run-up in prices, you would have 'thrown' away your money in paying off the interest, taxes, insurance, and if applicable, HOA fees. Unless you lucked out and sold your place at the top of the market.
Renters don't have to worry about that.
Of course, the renters miss out on the appreciation that real estate prices have provided for its owners, but the staggering losses recently incurred in real estate does give a lot of people pause about the true costs of home ownership.
[Side Note: I do read The Housing Bubble Blog, mostly lurking. Anyone else read some entries in that blog?]