I completely agree with G and I think a reasonable price would be what they used to be around 2002.
I remember my colleagues kept telling me to buy a property since last 4 years ago and I kept telling them that the prices were ridiculously high. So maybe they saved a couple of dollars on the Taxes but in overall I feel I haven't really lost anything buy renting all these years and they lost me than me by having a huge depreciation on their properties.
It's funny that until 2006 whoever had 2 or 3 properties were considered as the "lucky" guy but these days the "lucky" has been replaced by the "poor".
Now whatever property I am interested, I set my price to the 2002 price. If that works good for me and if not I move to the next one. - Mon Jun 9 2008, 10:52
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