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When I moved out to San Diego in 2001, you could purchase rental property and break even by renting it out. That is "just about right". If the price is near 2001, including some inflatation at 3% per year, you will not get hosed. I think you waited and jumped in at the right time. And you are realistic, that you will not have any appreciation anytime soon.
Now if inflation kicks in....this is really a good move.
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James
The pessimist complains about the wind; the optimist expects it to change; the engineer adjusts the sails.- William Arthur Ward (1921-1994)
Red-beard for President, 2020
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