Tracy Housing

Tracy is pretty much the same as Mt. House. Sales is up and supply is down. During the housing boom in 2005, all you heard from the media was the the tight supply of housing, and not the bubble. Now price is affordable, and the media only talk about the bad news.

Let's look at the numbers, you could rent a decent four bedroom house in Tracy for about $1500/month. You could buy the same house for about $200K now. For a 200K mortgage, your monthly housing expense is about the same as rent.

200k FHA loan @ 6%, $1523 PITII
principle & interest(pi) $1181
tax(t) $209
Home insurance(HI) $50
Mortgage insurance(MI) $83

I don't think anyone can predict which way the Real Estate market will go, but home price is much more reasonable now.