And what's the equivalent cost of owning a $500k-$600k house over the same cycle? A heck of a lot more than $1700 per month, that's for sure.Firebot wrote: ↑ I've rented for many years in the past, and having delt with no less then 8 moves as a child, let's just say the grass isn't necessarily greener on the other side and there's a lot of disadvantages (and advantages) to being renting, the main one having the potential of your family to be evicted at any time. All I know is 1700$ a month over 10 years = 0$ equity.
The landlord is just being realistic as to what the market can provide in terms of rent.Renting a 1700$ house is definitely cheaper then paying a 588,000$ mortgage, but at the end of the day you buy or rent what you can afford (frankly that landlord is an idiot for renting with negative cash flow, but I disgress). Both have their advantages and disadvantages and I'm not debating whether owning or renting is better.
TodayHello wrote: ↑...The Banks are smarter than you - they have floors full of people whose job it is to read Mark77 posts...