From an anonymous Burbed reader:
I thought that this might be a fun tidbit for burbed, though it’s not Bay Area-specific.
Ginnie Mae kindly provides a "Buying vs Renting" calculator to help prospective purchasers determine whether buying or renting is a financially better decision.
I did think that it was kind of interesting that it defaulted to 10% down rather than the more-traditionally-recommended 20%, but that wasn’t what I was writing about. While the calculator does provide a "Yearly Home Value Increase Rate", entering a negative value unfortunately returns the error "The value you entered must be a positive number."
It seems that Fannie Mae’s assumptions just haven’t held up all that well…
What it really is missing is a checkbox that says “Real Bay Area?” – ‘cuz if that checkbox is checked, it should automatically default to “BUY BUY BUY”.
Be sure to use this before you head out to your 15 open houses today! Thanks anonymous burbed reader!