On: Maybe treating housing as an investment was a mist...

[ashwagary]

>I'm a new immigrant to the US

In your position, I would recommend renting as long as possible until house price correct in maybe 2-5 years.

There is no reason to feed the bubble on already massively inflated properties with your hard earned money.

[gniv → ashwagary]

Agree, but with the caveat that the prices might not come down at all. But still I think that's ok. What will come down are the interest rates, and right now you can make 5+% risk-free on savings, so it makes sense to keep renting and saving.