Right now, for example, it costs $3,200 to rent in Siena in Laguna Altura but the mortgage payment for 20% down on $670,000 at 4.5%, 30 year fixed, with $295 HOA + Mellos = $4,002 a month.
Tax deduction is $1,006 per month at 35% tax bracket = $2,996 a month ain't too shabby to live in Laguna...