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Here are the pros & cons I can think of Pro: 1. Higher quality of living (than rent), newer neighborhood, etc 2. Protection against inflation that may come as a result of doubling money supply 3. Take advantage of the low rate - I don't think it will stay this low next year Cons...

AI - I guess you are right, if I give 2% interest, and add tax on that. Total loss on interest is $120/mo - that makes cost to own down to $2280/mo. Compares even more favorably against renting.

I submitted an offer for a short-sale condo a few months ago and the bank approved it yesterday. Now I am kind of having a second thought on this purchase and I'm wondering if I could get some advice from this forum. The condo is near Harvard and Warner, on Tustin side but Irvine schools...