Re: Renting vs Owning
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I am very curious,and in no way trying to question your decision,but spending $250k+ in rent,and now deciding to make another decison whether to spend ANOTHER $250k is perplexing?
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I don't see much upside to $800-1.2M condos in my city. Of the 3 projects that have units in that price range all of them have units that have never been lived in despite being on the market for 3-4 years. With a 4th upmarket building in the works I can't see enough demand for this particular type of real estate in this specific location. I figure if it meets inflation that would be the best I could expect.
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This should mean that you can get a good price on buying.
Real estate usually booms in a 10 year cycle, if the last boom was particularly big then it might take a little longer but if your planning to stay there 10 years and there's nothing moving in the last 3-4 years your odds are good.
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