Until recently I was seriously considering buying a house. But there is really only two reasons to buy a house and I'm not sure I meet either of the two criteria. The two reasons you buy a home are
1) You intend it own it long term as your family home
2) You intend it to be a rental unit.
I have no intention of spending the rest of my life in LA so option 1 is out. So what about option two?
Option 2 isn't as sure fire as it may seem. Even with the housing market approaching a 10 year low, there is no guarantee it won't crash even further. If the economy continues to tank to a level that no one can afford the "rent", than I'm stuck.
And since Congress and our beloved President are doing everything they can to prolong and deepen the recession, I have no faith that the economy will hold out enough to pay me rent.
I guess that leaves me a renter for now. At least that means I'm not tethered to any one place.
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