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10-22-2008, 10:16 PM
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to live and die in LA
Join Date: Feb 2003
Location: Los Angeles
Posts: 2,090
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Around these parts, you can rent a decent 2 bedroom home for about $2500. Mortgage on that same home will probably run you $4000 if you bought close to the peak of the market.
So, add $1500 to the price of your new mortgage, along with losing the tax deduction for interest on the mortgage, and it starts to look pretty untenable for a lot of folks.
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