[Beagle8U]

I've never lived in a place like CA with an insane housing market but anyplace I have lived it was a waste to rent for long.

I bought my first home when I was 16 on a land contract. I have never lost one dime on a home, always made money.

[Myrddin]

I purchased my first condo at age 21. Like you, I've never lost a dime on my real estate. The house I purchased in Mira Mesa for $105,000 in 1983 was sold for $242,000 in 2001. It would sell for $500,000 today...if you could find someone with the money to buy it. I was happy to leave with a net $80,000 after covering $60,000 for moving costs and repayment of an equity loan. I tossed another $117,000 from a stock sale into the mix to pay off the mortgage in Pocatello. A 3900 sq ft house on 1/3 acre for $179,000 was just fine in 2000. I purchased the 2068 sq ft future rental with my income tax refunds as total cash out of pocket. Less than $9000 and a PITI payment that I can tolerate as long as I want. It will probably be rented in 2007.