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This would be soaked up by rent, which is set by available income less essentials.
by amiga_500 7y ago
This would be soaked up by rent, which is set by available income less essentials.
- perl4ever 7y agoThere are townhouses roughly five miles apart in the city where I live that differ by a factor of two in price. If what you say means anything, they should rent for the same amount...? It seems doubtful to me.
- amiga_500 7y agoNo. Location matters. 5 miles is a long way in any city. Identical apartments 5 miles apart will have different rents.
- deleted 7y ago[deleted]
- perl4ever 7y agoThe major office complex in the middle of things is almost ten minutes commute from the expensive townhouses and just over ten minutes commute from the cheap ones. Even though it's right beside the expensive homes. So in this particular case, 5 miles is not a long way. It seemed pretty obvious to me that the difference was that the expensive ones were brand new and the cheap ones were 25 years old. But often people don't think of houses depreciating like cars.