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Author: yosandiego One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127683  
Subject: Re: Is it crazy to try to buy in the Bay Area no Date: 5/23/2005 4:01 PM
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Tashina,

I think your advise makes a lot of economic sense. You along with several others have counseled us to keep renting, which seems to be the right thing to do despite my desires to do otherwise.

The only part of your post I'd quibble with is the idea of moving elsewhere to be able to afford buying a house. You are correct that we could easily afford to buy in other places, even taking a pay cut. The thing is, we have no desire to move somewhere else unless we have to. We've lived in several other places over the last 10 years and nowhere feels more like home to us than here! So, unless renting becomes unaffordable here, we wouldn't consider moving due to cost of living.

You say: "Sure the Bay Area has some culture and some people like the weather, but how much of your long term freedom are you willing to give up to live there?" Good point. On the other hand, Is it really worth leaving the place you love living just so you can buy a house? If we can continue to rent and save $ (even though it will be less savings per year after having kids), are we really giving up our "long term freedom" by deciding to stay?

I don't know the answer and truthfully haven't thought it out completely. I suspect if home prices do continue to rise sharply as we look to buy, I will have to face the issue of potentially leaving one day head on.
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