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That compares average mortgage and average rent, but the average house you buy is going to be much bigger (and include a yard) than the average rental. They’d n
by cramsession 1y ago
That compares average mortgage and average rent, but the average house you buy is going to be much bigger (and include a yard) than the average rental. They’d need to compare equal properties to have a meaningful study.
- const_cast 1y agoThe average home is also going to be in a very suboptimal location. If you compare homes and apartments in the same location, the gap grows even wider. Yes, $4,000 a month in Manhattan is expensive. But $4,000 might be JUST the HOA cost for buying in the same area. Never mind the 10 million dollar mortgage. (Spoiler: fake numbers, actually do the math for your city)