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You would rent because you’d lack the deposit and income a bank would require of you for the same property. Now that I have a mortgage, it’s much less than the
by dontlaugh 1y ago
You would rent because you’d lack the deposit and income a bank would require of you for the same property.
Now that I have a mortgage, it’s much less than the rent I was paying for a similar property. This is the case in most developed cities on Earth.
- Spivak 1y ago> Now that I have a mortgage, it’s much less than the rent I was paying for a similar property. This is what my parents kept telling me would happen but no one in my late 20s social circle who've bought houses (including myself) has been able to make it happen. Even my friends who got locked in at the 2% interest rates still pay about $300 more than the equivalent rent. I live in a, by population, a top 30 city in the US and actually live in the city, not its "surrounding metro area."
- dontlaugh 1y agoI don't know what would make the US so special with such incredibly cheap rents. In much of Europe, small landlords buy with a mortgage, cover it with the rent and still extract a profit on top. Why would they buy-to-let otherwise?