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siverson |
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Advanced Member ![]() ![]() ![]() ![]() Group: Benefactors Posts: 2,448 Joined: 5-May 03 From: San Diego, CA Member No.: 654 Region Association: Southern California ![]() ![]() ![]() |
Way, way, off topic, but I'm about to make a pretty big decision (for me), and I'll always listen to free advice (may not follow it though... (IMG:style_emoticons/default/smile.gif) ). Anyways, I'm about to buy condo #901 (<-- only 914 tie in in this entire thread!) in a building in downtown San Diego.
It's expensive. I can afford the payments on a 30y fixed and have 20% down, but I'd hate to see my 20% down payment go poof if the real estate market crashes. And we're due for a crash - it's been gaining 20%+ PER YEAR for the past several years. What's your crystal ball say? Buy now, or continue to rent and then buy when it all comes crashing down? -Steve |
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vortrex |
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#2
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Senior Member ![]() ![]() ![]() Group: Members Posts: 1,687 Joined: 24-December 02 From: SF, CA Member No.: 4 Region Association: None ![]() |
also, look at it this way. even if there are no gains on your property you're putting some money "in the bank" every month and also getting huge deductions from the IRS. I love getting my $12,000 tax return every year.
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