http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=agHKrNT9dvAw If those stats are true, and this place isn't in a ghetto, then the guy is paying $585 a month in interest (assuming no deposit, in reality he probably put down 10-20%) and another $205 in principal vs $1400 on rent. That's a pretty attractive free cashflow return. 3-4 years after the top in real estate, are some of the former bubble areas now actually good value? I'd like to know what the replacement cost of a 2000 sq ft 4 bed house with pool & decent yard is in that part of Arizona, anyone connected to the building trade here who might know that stuff? Even if the market hasn't hit bottom, which IMO it hasn't, it looks like some areas are getting cheap. Might be worth digging around a bit and looking at buys in the next few years. Anyone got these rent vs mortgage figures for other former bubble spots like Miami, Vegas etc? I know both crashed hard but haven't visited for a while.