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The tradeoff I have seen is more extreme - it's more like tiny one-bedroom or studio with no outside space (balcony or deck) in the city vs. McMansion with an h
by ojbyrne 18y ago
The tradeoff I have seen is more extreme - it's more like tiny one-bedroom or studio with no outside space (balcony or deck) in the city vs. McMansion with an hour commute. I think that sellers/landlords,etc completely understand the "weighting" and have largely arbitraged away any advantage that city centers offer.
- ericwaller 18y agoExactly, efficient market and all that says there cannot be a "correct" choice.
- pmorici 18y agoRight, the author neglects to mention that most people would be willing to spend a lot more of their income on a mortgage payment then they would on apartment rent. Where mortgage counts partially toward savings rent is just flushing money down the craper 100%. If you spent the same amount on rent as you did on a house payment you could probably get a pretty nice place.