2 ms·
Is rent really higher than a mortgage though or does that fail to take into consideration things like taxes, HOA, etc.? If rent were higher than a mortgage, wou
by twox2 5y ago
Is rent really higher than a mortgage though or does that fail to take into consideration things like taxes, HOA, etc.? If rent were higher than a mortgage, wouldn't that suggest that most of the tech folks CAN in fact afford property in these markets?
- reducesuffering 5y agoRent is usually simultaneously lower than the extras-included mortgage payment but higher than the net worth hit. A Bay Area $1m home might rent for $4k, have a $6k mortgage new, but only drain your net worth $2k. (because of $ towards principal, housing appreciation/inflation, tax deductions, etc.)
- sjg007 5y agoNo, not if you don't have the downpayment.