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LA, California Folks - Need some help!

My husband and I are moving to LA due to his job moving and we are wondering if the market will ever drop below what it is now? If so, should we rent and wait to buy or is now the time to buy?

We are currently in Texas and bought our home for $300K. We will sell for a profit of about the same. I would like to make the same type of investment in LA so we are not upside down on a house. We built our home new and although the lot is small, the area is booming, driving the prices up. I know there is a lot of gentrification happening in some areas of LA but also wondering if established areas will ever see a price drop?

Also would like to add I have been looking at modular and manufactured homes to buy and possible save to buy a nicer home later if prices drop. If anyone has advice on this, that would be great!

TLDR; moving to LA and need advice on if we should buy or rent? If buy, should we buy a modular or foundation home?

submitted by /u/meepmeeped
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source https://www.reddit.com/r/RealEstate/comments/1ipb00u/la_california_folks_need_some_help/
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