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A comment on Is it better to buy or rent?. Parent comment

Re:Is it better to buy or rent? by Cherian on Friday June 19, 2015 @11:02AM (#9745226)
Even in this case, isn’t there a reasonably good chance the person could have sold it for 10% more than ($X+$Y+$Z)[1] at the time of the crisis? The lender and the loaner will part with the equity based on the mortgage payments over the years.

Based on cursory look into Redfin data, homes in the Bay Area are vanishing in 5-12 days, selling at 100-300K above the listed price.

[1] I hope we don’t cite recession here.

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Re:Is it better to buy or rent? by refurb on Friday June 19, 2015 @12:26PM (#9745871)
In the bay area over the last 5 years? Sure.

Across much of the US? Probably not. Don't forget the average cost of selling a house is 6%. Buy a place for $500K and if the value of the house doesn't go up by at least 6% you've lost money.

That doesn't include all the other costs associated with buying a new house (moving costs, etc).

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Re:Is it better to buy or rent? by JamesBarney on Friday June 19, 2015 @06:11PM (#9747974)
Not to mention loan origination fees, appraisals, and inspections costs.
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Re:Is it better to buy or rent? by Cherian on Friday June 19, 2015 @01:05PM (#9746163)
Forgive me, I was very biased toward Bay Area.
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