Where can I buy a good, stylish, yet inexpensive suit in San Diego?

Buy House in 2009 or rent until 2010 or 2011 in San Diego?

• My husband and I have been renting a place for about 2 years now with some roommates. We are paying for about $700 a month and we are planning to move out to the other place for our own in this summer. Since housing cost has dropped tremendously, we are thinking about buying small house in San Diego,CA. Since we are first-time-homebuyer, we should be eligible for $8000 tax credit and whatever we pay for the house will be applied towards our place, not to someone-else's mortgage. Also, paying a deposit when you rent a place is not 100% refundable and we were looking to pay $2000 for renting deposit, we would pretty much loose $2000. So we rather pay $2000 towards mortgage. In San Diego, you can buy a place (2br/2ba) around $1300 a month that includes property tax,insurance and HOA, which would be cheaper or almost the same as "rent". Altough, I've seen lots of articles that's written by an economist on the internet where it says "Do not to buy a house in 2009", because house-price will still drop and some other reasons. We do not want to pay a "rent" and "deposit" anymore but I am not sure if we should rent another place by paying $2000 for a deposit and $1000-$1300 a month for a year or two and then buy a house in 2010 or 11?? It depends on a house-price but we have a few for the down-payment to get a house. What would you do???

• Answer:

  I would investigate buying something that may need minor repairs (bank owned/ short sale or foreclosed). Things you could do. Get it at a price much lower than the current market in that area, and you should be fine in 2 years. There is always a risk, but in the meantime you would have the benefit of tax breaks and such.