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In our area average rent has now overtaken our mortgage payment. So glad we got off that treadmill.
by ultrarunner 6y ago
In our area average rent has now overtaken our mortgage payment. So glad we got off that treadmill.
- jlokier 6y agoIt's cyclic. Where I live, when I was too young to buy, mortgage was cheaper. When I was old enough to buy, rent was cheaper and prices had already risen enormously, so I stuck with rent, and hoped prices would stabilise or fall. In retrospect this was a mistake, as prices continued to rise. Now mortgages are cheaper than rent again.
- ultrarunner 6y agoThat is interesting. I have only owned a house for ~7 years, so I likely haven't experienced this cycle. Thanks for the insight.