1097 sqft, three bedrooms, one bath on a 6300 sqft lot. For ONE MILLION US Dollars!
You drop $200k and then spend $4500/month to live in this house. Genius idea.
Or you can invest your $200k at 4% – yes – I used a measly 4% and after four years have an extra $34k plus you can rent this house for $3600 and pocket $10K a year in the money you saved.
Oh, but the tax write off! Yes you can write off about $33K in interest per year. Even if that warranted a refund of 33% of that ($11k) that barely covers the annual savings versus renting. If this house drops in value you’ve lost a lifetime of savings.
El Segundo Housing real estate bubble. It’s not just local.