I'll be in North Carolina and could get a decent condo for $80,000... However I feel like no one is thinking about the appreciation aspect. Sure you will be paying towards interest however that $80,000 condo or house you bought 4-6 years ago could be worth $120,000 later. So who cares if you mortgage (which would be equal to the same dollar amount as the rent money you'd be throwing away) is solely paying down the interest, when you sell you get to reap the benefits of the appreciation.
Now this is dependent upon when the market hits a bottom of course, which appears to be within the next year or so...but is this making any sense to you all?
livmoredyles got a reaction from hgp in Buying a house while in graduate school?