Quote:
Originally Posted by rubecube
It's not necessarily the month-to-month costs. Hell, I'm paying $600/month to live basically 4 blocks from the heart of downtown (although that's generally unheard of), but it's hard for people to save up the money for a down payment when they're paying the exorbitant rental costs. My girlfriend's ####ty condo in one of the worst areas of the city has somehow managed to appreciate $80k since she bought it three years ago. She managed to save for the down payment because she was able to live at home for most of her 20s and had no student debt. She wouldn't have a hope in hell of getting into the market nowadays even with those advantages.
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Yeah, well, by moving here, I basically understood that, barring a giant disaster, I will never own a place. That is just the reality for now.
It's just about a place to live, and not using real estate as an investment tool. That is nutcase thinking, and is what is basically driving these out of control costs.
That said, I would not be closed off at all to some kind of rent control.