4 ms·
In addition to what reverend_gonzo said, there is the simple fact that rents (mostly) go up and mortgage payments don't.
by nattaylor 11y ago
In addition to what reverend_gonzo said, there is the simple fact that rents (mostly) go up and mortgage payments don't.
- kspaans 11y agoInterest rates aren't guaranteed to stay low. Here are the historic rates: http://b-i.forbesimg.com/phildemuth/files/2013/07/image001.png http://b-i.forbesimg.com/phildemuth/files/2013/07/image001.p... Though if you have a long-term fixed-rate mortgage, you are probably OK.
- nattaylor 11y agoTrue, I was assuming fixed rate.
- nattaylor 11y agoI've always thought this calculator was an insightful way to play out various home buying scenarios since you can adjust pretty much anything, including the tax benefits and the market return of an equivalent investment. http://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html?_r=1 http://www.nytimes.com/interactive/2014/upshot/buy-rent-calc...
- spriggan3 11y agoYes, like subprime mortgage rates didn't go up ...
- jorts 11y agoThey were variable rate loans or had balloon payments... If you get a fixed rate loan the amount you pay per month on your mortgage will not go up.