A friend forward the following. It's more of a rant, but let's see if any readers have been in a similar situation and worked it out. Or maybe we have some savvy financial advisers in the audience.
"Hi Curbed: Here's my financial situation. I make about $70,000 a year, working in an industry that's highly unpredictable. I could be laid off at any moment. (And I have in past years.) I have a portfolio of stock + cash worth about $600,000. Right now, I pay $1,000 a month for a v. good and v. big place in Hollywood. So considering what I would pay for a monthly mortgage, I keep renting. That said, I'm so fucking sick of paying rent. I'm so sick of having a landlord. I'm sick of listening to my neighbor's crappy music through my wall. So I want to know what my buying options are. Where's the loophole? Do I buy with a friend? Just grab a cheap condo and move to bum fuck fuckity-fuck? Are there any options I'm overlooking?"