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Real Estate
Reply to "The seven paths to DC-area home ownership"
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[quote=Anonymous][quote=Anonymous]I'm confused why you would rent for 8 years when we had a nice market bottom in 2008/2009. Why not buy then? Now you're trying to buy something at the top of the market again. I'd wait.[/quote] Not the OP but they probably were not ready to buy at that time and no one had a crystal ball to tell them the prices were going to go up. We've been searching for a year in a desirable area (great schools, close commute) on a $1 million budget and have been very discouraged. Even at that price point, most homes are a dump or on a busy road. Anything good we saw, we last in bidding wars that escalated $50-100K over list price. We just found a place to rent in that same area for much less than a monthly PITI on a comparable home. In the meantime, we'll continue to save or wait until it feels like we're not making such a major sacrifice/investment on a place that we wouldn't love anyway.[/quote]
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