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Are there any areas of Orange County where housing prices have fallen so much that one could potentially rent out the property and pay all the mortgage, association, and taxes with the rental money received? Unfortunately I only know how much rentals go for in Irvine, where mortgage payments...

This forum has been very informative and has pretty much convinced me to rent instead of buy a place. My only big concerns are interest rates and government bailouts. If I were to buy a place I would be financing 80% of the purchase price and getting a confirming loan. Right now 30-year...

Thanks for the advice everyone. I'll give renting a serious second thought.

The reason I think it would be better to buy now vs rent is because if I buy, my "rent" will be going toward the mortgage and I would be saving on taxes. And more importantly, although I think the value of condos (SFR less) will continue to depreciate over the next year, I think interest rates...

I'm a young professional living and working in Irvine. I've been living with my parents for the past 2.5 years (after graduating college) in order to save for a down payment. Now that I have enough for a down payment, I'm definitely ready to move out and buy a place (500K or less)...