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colpanic · 08-30-2006, 07:38 PM

I've been looking for condos in downtown SD for awhile now. Everything is down at least 50k, and some are starting to drop 100k, but I don't think it's done falling yet.

The rent to mortgage ratio is so screwed up right now that without the crazy growth it doesn't make sense for a lot of people to buy in. My rent is $1200/month down town... a condo next door would have me paying 3500/month. Even with the tax breaks, that blows in a decline, or even flat growth scenerio.

That being said, I'll probably buy around the end of the year if I can find something I like in Little Italy or East Villiage. I think it's a good time to buy in the place you really want to be.

-T

08-30-2006, 07:38 PM
colpanic Confirmed User Join Date: May 2004 Location: San Diego, CA Posts: 1,007	I've been looking for condos in downtown SD for awhile now. Everything is down at least 50k, and some are starting to drop 100k, but I don't think it's done falling yet. The rent to mortgage ratio is so screwed up right now that without the crazy growth it doesn't make sense for a lot of people to buy in. My rent is $1200/month down town... a condo next door would have me paying 3500/month. Even with the tax breaks, that blows in a decline, or even flat growth scenerio. That being said, I'll probably buy around the end of the year if I can find something I like in Little Italy or East Villiage. I think it's a good time to buy in the place you really want to be. -T __________________ I like ducks.