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Reply to "need to buy a home to save money but can't"
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[quote=Anonymous]At current rates, with $5k down, a $2000/month PITI would buy you a $300k house. Those are going to be slim pickings, old, and in suspect school districts (and you need to buy something you can be happy with for long term, b/c you will be there for a long time most likely). http://www.zillow.com/mortgage-calculator/ Renting is far cheaper in DC area. Only buy if you are really sure you will stay put for like 10 years, and can benefit whenever they raise rates and interest rises.[/quote]
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