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> I've heard this is usually the case in the USA Where have you heard that it is usually the case in the US? I have put money into two different housing mark

> I've heard this is usually the case in the USA Where have you heard that it is usually the case in the US? I have put money into two different housing markets (Dallas-Ft. Worth and northern New Jersey) and it was not the case in either.

persedes 6y ago
same for the research triangle in NC. edit: just checked an area little further out, same still applies. ~2 years ago the only home we found that would've been that "cheap" reeked of mold. It does not surprise me for these densely populated areas, but I can imagine this might be the case in more rural areas.
- theptip 6y ago
  I'm wondering if this is a "mortgage payment amount" vs. "total cost of ownership" difference? Not my area of expertise, but a quick search gives some conflicting and unspecific articles like: https://www.cnbc.com/2019/02/13/how-much-more-money-it-costs-to-own-a-home-than-rent-in-every-us-state.html https://www.cnbc.com/2019/02/13/how-much-more-money-it-costs... https://www.businessinsider.com/us-cities-where-its-cheaper-to-own-home-than-rent https://www.businessinsider.com/us-cities-where-its-cheaper-... Or in your experience in these markets are you seeing rent above the total monthly cost of ownership? When I'm saying "mortgage is more expensive" that's really a lazy shorthand for "total monthly cost of owning a house including HOA and maintenance", not sure if that was clear from the context.
  - persedes 6y ago
    From my small sample size I'm seeing around ~500$ / month (33%) more for renting vs what you'd pay on a 30 year mortgage. This difference might be covered by total costs of ownership, but according to the nyt rent vs buy calculator, you'll only be better off renting when looking at a time frame of less than ~5 years. Greensboro, NC is on that list (which would fall in the more remote category) and the same still seems to apply. Not sure if my numbers are right, but a 2,000 sqft house from the 60s is being offered to rent for 1,500$, which is kind of ridiculous imho. Property value should be around 200k, with a monthly mortgage <900$: https://www.zillow.com/homedetails/1603-Milan-Rd-Greensboro-NC-27410/5935444_zpid/ https://www.zillow.com/homedetails/1603-Milan-Rd-Greensboro-...

persedes 6y ago

same for the research triangle in NC. edit: just checked an area little further out, same still applies. ~2 years ago the only home we found that would've been that "cheap" reeked of mold. It does not surprise me for these densely populated areas, but I can imagine this might be the case in more rural areas.

theptip 6y ago
I'm wondering if this is a "mortgage payment amount" vs. "total cost of ownership" difference? Not my area of expertise, but a quick search gives some conflicting and unspecific articles like: https://www.cnbc.com/2019/02/13/how-much-more-money-it-costs-to-own-a-home-than-rent-in-every-us-state.html https://www.cnbc.com/2019/02/13/how-much-more-money-it-costs... https://www.businessinsider.com/us-cities-where-its-cheaper-to-own-home-than-rent https://www.businessinsider.com/us-cities-where-its-cheaper-... Or in your experience in these markets are you seeing rent above the total monthly cost of ownership? When I'm saying "mortgage is more expensive" that's really a lazy shorthand for "total monthly cost of owning a house including HOA and maintenance", not sure if that was clear from the context.
- persedes 6y ago
  From my small sample size I'm seeing around ~500$ / month (33%) more for renting vs what you'd pay on a 30 year mortgage. This difference might be covered by total costs of ownership, but according to the nyt rent vs buy calculator, you'll only be better off renting when looking at a time frame of less than ~5 years. Greensboro, NC is on that list (which would fall in the more remote category) and the same still seems to apply. Not sure if my numbers are right, but a 2,000 sqft house from the 60s is being offered to rent for 1,500$, which is kind of ridiculous imho. Property value should be around 200k, with a monthly mortgage <900$: https://www.zillow.com/homedetails/1603-Milan-Rd-Greensboro-NC-27410/5935444_zpid/ https://www.zillow.com/homedetails/1603-Milan-Rd-Greensboro-...