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8 years ago I bought a house. My monthly rent was 1300 and mortgage/escrow/repair savings were instead 2000. Rent went up $100-$200 a year. My son is looking f
by Libcat99 1y ago
8 years ago I bought a house. My monthly rent was 1300 and mortgage/escrow/repair savings were instead 2000. Rent went up $100-$200 a year.
My son is looking for rentals in our same community and the equivalent rental to what I had is now around $3000.
Even ignoring appreciation, in the long term there was a cash flow savings.
- RHSeeger 1y ago> there was a cash flow savings ... in your case. There was a cash flow savings in your case. I've moved several times and done the math each time. Sometime it's been more cost effective to own, sometimes to rent. There are a lot of factors that go into that calculation, and the math doesn't always fall on the side of buying. That's especially true if you don't expect to be in a house for decades.
- DrillShopper 1y ago> My son is looking for rentals in our same community and the equivalent rental to what I had is now around $3000. Good for you. Bad for your son or anyone living in your community.
- JKCalhoun 1y agoAgree. I wonder though if the tone of your comment doesn't come across as casting blame on the person who got the mortgage years ago.
- DrillShopper 1y agoIt's not intended to, although it is intended to be blunt.