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New landlords in Austin are getting screwed right now. In my neighborhood, a mortgage is about $3000/mo but houses are renting for $2100.
Anyway, I pretty much agree with everything redpoint has said. His inflation example of a $2000 payment being peanuts in 10 years is how it's worked for us, too.
Just be careful about timing. Paying 8% interest would not be wise in my opinion.
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