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I'll add a comment to my own comment. In the last 3 months we've seen a HUGE advantage to home ownership over renting. I recently refinanced, as lots of Ameri
by bluedevil2k 6y ago
I'll add a comment to my own comment. In the last 3 months we've seen a HUGE advantage to home ownership over renting. I recently refinanced, as lots of Americans have done with the historically low mortgage rates. I knocked hundreds of dollars a month off my mortgage payment. You think your landlord is going to knock hundreds off your rent when he refinances the building you're in? No, that extra profit is going right into his pocket.
- jeromegv 6y agoRent is based on supply and demand. Landlord is not going to charge less or more than the market can afford. So no the landlord won’t drop the price because of mortgage. But there’s a lot of people negotiating hundreds of dollars off their rent in toronto because the market is down and if they refuse, the renter can pick just any other place that is cheaper. And its very well possible that those landlords didn’t get a discount on their mortgage if they are locked in. So it goes both ways.
- analognoise 6y agoIn one case as a renter, you go hat in hand to your landlord, and beg for permission. As a homeowner, you contact a lender and get it done. It benefits you directly.