Asked by Ka, Los Angeles, CA • Mon May 5, 2008
I would like to see a table or figure out the costs for renting vs. buying. I would like to buy into the Palos Verdes School District, near the ocean in Lunada Bay or Malaga Cove close to my surf spot. I am not flexible on the location. However, if I wait out the real estate until prices drop a bit... how can I figure out the real cost of renting vs. not buying. I am considering renting a house for approx 3k per month while renting out my house in another school district for 1500 or more per month, keeping my smaller home. How long would this be a good idea in this market. Would llke opinion of NewportFiji and other economists. Also interested in your opinions on if the election is going to make the prices drop further, or will they go up right after the election (no matter which side wins, or pick a side for your extrapolation and give supporting theory). I am talking about the entry level PVE homes 900k to 1.8 mil, not the
Manor Houses (2-8 mil).
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