Buying property is a long term decision. People in my family tend to buy a home and then get dragged out feet first 50 odd years later.
I bought my place 15 years ago in San Francisco. It seemed like an unreasonable shitpile of money at the time.
My mortgage on a three story single family home plus land on top of Twin Peaks is three grand and change. I rent a couple rooms out and that covers a good part of the mortgage. A one bedroom apartment next door just rented out for more.
Granted SF is an unusual market, but California's population is forecast to nearly double, so the housing supply/demand imbalance is likely to only get worse, and if you don't live in a rent controlled unit, your rent is only going to increase in spades.
Plus I have the added advantage of being able to paint my house anyway I like, put pink flamingos and garden gnomes out front, and yell, "Get off my lawn!" when the mood suits me.
I bought my place 15 years ago in San Francisco. It seemed like an unreasonable shitpile of money at the time.
My mortgage on a three story single family home plus land on top of Twin Peaks is three grand and change. I rent a couple rooms out and that covers a good part of the mortgage. A one bedroom apartment next door just rented out for more.
Granted SF is an unusual market, but California's population is forecast to nearly double, so the housing supply/demand imbalance is likely to only get worse, and if you don't live in a rent controlled unit, your rent is only going to increase in spades.
Plus I have the added advantage of being able to paint my house anyway I like, put pink flamingos and garden gnomes out front, and yell, "Get off my lawn!" when the mood suits me.