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Yeah, my mortgage is $800 for a 2,000 sq ft house and my son's rent for 1/2 of a 1 bdrm apt is $1700. The situation is completely out of control. (We're both
by e40 4y ago
Yeah, my mortgage is $800 for a 2,000 sq ft house and my son's rent for 1/2 of a 1 bdrm apt is $1700. The situation is completely out of control. (We're both in CA.)
- gwright 4y agoI'm not saying there isn't a disparity but a comparison like this would need to include taxes, maintenance, and utilities on top of the mortgage to be comparable to a rent (well utilities may or may not be included).
- goosinmouse 4y agoAnd at the end of 3 years the homeowner will have 3 years of equity and the renter will have nothing.
- pc86 4y agoAnd the homeowner has to stay there unless they can get someone to buy it, while the renter can just leave. They're completely different situations.
- fxtentacle 4y agoFor comparison, in northern Germany one can rent a 1000 sq ft house + 1000 sq ft garden in walking distance from offices, supermarkets, restaurants, etc. for about $1000 cold per month. Sounds like CA is 5x more expensive for young people. But salaries are "only" 2x to 3x those of Germany.
- deleted 4y ago[deleted]