haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
It's a little hard to decipher what you are trying to say, except that you don't own in an expensive market, so owning in expensive markets must be bad.Sure, many those who bought in HCOL areas have collected what economists term a "rent" over and above the expected normal return for housing (overall, for most of the country 1% real return annually)
But now they own a highly appreciated but highly illiquid asset whose "service" in HCOL areas normally requires two incomes (better hope both stay employed full-time, which was a huge problem for many of those owners 2008-9)
Where to live and how to finance it is a personal decision. But, if one is going to live near the salt in a big US city, especially a West Coast city, and that person would like to have a decent chance of continuing to live there, under these conditions buying has usually been better than renting for maybe 50 years, as long as one can have some control over holding period.
Of course, a good entry always helps but then I guess that brings up the mortal sin of market timing, which we know cannot be done, as per our favorite gurus.
As usual YMMV.
Ha
Last edited: