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Post-Sale: Buy High or Wait&Rent (Southern CA)

Hello! Seeking advice here.

Situation: Pro - Able to sell home through employer relocation with significant equity to gain and no closing costs to pay.

Con - purchasing a new home of similar size with decent school districts in Southern California will be high prices and very competitive, even with 20% down.

Question: Should renting be considered to see if the market cools and competition dwindles? Risks being considered are that interests rates increase, competition remains strong, prices and demand increase more and lost tax benefits of home ownership while renting.

Thanks!

submitted by /u/tarbeez
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source https://www.reddit.com/r/RealEstate/comments/lu2ngp/postsale_buy_high_or_waitrent_southern_ca/
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