@David S. and @Dustin Beam thanks for clarifying the formula - started to run those numbers but they don't look great when you own a property outright@Michael Noto yeah, we bought at a good time - found a gem of a neighborhood right before the values started to rebound 

In my neighborhood house values have gone from the peak of 185,000 with foreclosures down to 75,000 at the bottom.Now it has gone back up to 85,000 to 90,000.Most of the foreclosures are Freddie Mac in my subdivision with a couple Fannie Mae's.I do the bare minimum to maintain the house.I am not worried about the value and simply the mortgage payment is much cheaper than rent for a similar house in the area.Eventually if you hold long enough it will rise back up to meet debt payoff.I don't see the primary residence house as my source of retirement.I see the other owners taking great care in my subdivision of their properties.This can only help the development to rebound sooner in value.

If rents drop 5-10% (or more, god forbid) are you going to be able to hold onto the property comfortably for 2-3 years while waiting for it to rebound?

And by 10 times, the index has rebounded to a new record .

Ex) City of Detroit is among top quartile of US cities in job creation thanks to rebounding auto market. 

The cruise industry will rebound and they’ll make a fortune.

This is from a chapter in the book, [removed] Thought some of you might find it of some value:Creating value can be as simple as buying a property that’s in great condition and in a great location in a rebounding and growing community.

Do you think this town will eventually rebound!?

MikeOH,Dollar rebounds against Yen, Euro and Pound Sterling (from a 26 year funk) today...http://www.bloomberg.com/apps/news?

Especially if I'm right in assuming that would help stimulate the market's rebound... return confidence to those who can buy but aren't for fear we aren't at the bottom, that they couldn't resell if they had to in 3 or 5 years... allow those who want to move but can't to be able to, to go where jobs are, to go from "under employed" to fully employed... to convince investors who still aren't sure about real estate to chase the market and poor more money into it...