On top of the problems you've cited is the ridiculous condo/HOA fees. What would be an affordable condo/townhouse for a retiree becomes unaffordable when the fees are double the mortgage. I'm not exaggerating: $426 mortgage, $1000 in fees. And you never build equity paying the fees; it's like the worst of renting and owning rolled into one. Even far far out of the DC area, prices have skyrocketed.