You hear stories about sellers slashing listing prices to attract buyers, but home prices nationally have risen more than 10% over the past year. That leads people to take more risks than they should. The idea here is that if people's monthly payments to own a house are much higher than what they would spend to rent the same place, tax considerations included, then they must be banking on prices going up so they can sell for a profit someday.
Tagged: California
Buyer (And Seller) Beware