My Housing Fund

I am currently living in a great location. I walk to work, there is a mall right up the street, a grocery store...plenty of nice places to eat...but I rent.

Renting isn't a bad deal... but when 18/04% of your income just...disappears every year as opposed to building equity in a house, it is a little frustrating.

Interest rates are high, it is a buyers market, and housing prices are on the decline. The general rule is that if you are going to be in one location for more than 2 years, you should go ahead and buy (if you can afford to) becuase chances are that you will come out on top.

My biggest problem has been:
A) Finding a place that is affordable (the house I'm renting in would costs ~$750,000)
B) Finding a place that is still close to work (a secondary issue...some commuting is ok)
C) A place that I will be happy living in
D) The chance that I might not be employed in my current position for 2 years

I went ahead and put some of my portfolio into real estate stocks recently. I figure that if I'm not buying myself...at least I can own some shares of a company that is buying. I think I may even jsut keep putting money into those stocks and eventually cash them out to use for the downpayment of a place.

GGP: 47.34% of one months income
BXP 25.12% of one months income
RWR: 79.17% of one months income
Total Housing Fund: 151.63% of one months income

Goal: 901.92% of one months income (if I were to put down 20% of the property value range I'm looking in.

Progress:

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