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Real Estate
Reply to "Huge spread between rent and mortgage payments"
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[quote=Anonymous][quote=Anonymous]We are moving next summer - location isn't set in stone yet. We would prefer to buy, but we're finding that the current high interest rates are pricing us out of homes equivalent to what we're in now - but that rent in the same location is about half what a mortgage would cost us. This is the case across the country and in various size cities. We've purchased 8 houses in the past 15 years, and it's always been the opposite. Is this just because people who've held their mortgages a while can afford to charge less rent to cover, or is there something else going on?[/quote] That’s a crazy number of home purchases. Are you military? It’s hard to imagine that works with the transaction costs. Like a pp said, nothing wrong with renting. [/quote]
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