Tuesday, March 17, 2009

Looking pretty affordable

I was looking a bit more into LA home prices, and it seems encouraging:

Low mortgage rates combined with price cuts brought the typical monthly payment to $1,090 -- a level almost half that of February 2008, when a buyer of a median-priced home at prevailing mortgage rates would have had a monthly payment of $1,940, according to DataQuick.

That isn't really much more than I would have expected to pay for rent. Three to five years of saving and I would think I would be be in really good shape.

No comments: