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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Even with current rates you can buy a whole home for 4k / month. Why would anyone in their right mind spend that kind of money for some run down boomer condo in Montgomery county? You are delusional.[/quote]

I don't get these posts.  At current interest rates, with 20% down you are talking about a $750k house.  That's not a house in the best parts of Montgomery County and nowhere near downtown Bethesda.

Also, that's just the mortgage payment.  You also have property tax, homeowners insurance and then an expectation of annual maintenance.  Your $4k/month is more like $5500 - $6000/month...and again, you aren't living in a dynamic place.

Finally, I assume your house doesn't come with a nice pool (maintained by someone else), a nice gym, maybe a nice clubhouse, rooftop deck, etc.

There are many empty-nesters that are happy to be done with SFH ownership and the interest they earn on selling their house more than pays for the $4000/month (or more like $3000/month) for a luxury downtown Bethesda rental.[/quote]

Eh, disagree...[b]I bought before interest rates spiked but pay 3400 monthly for mortgage and escrow and taxes for sfh in bethesda. [/b] I know empty nesters that own 1400 Sq ft coop, beautifully renovated, in further out bethesda ( not downtown) with building with indoor and outdoor pools, gym, restaurant, free parking, etc and no where close to 4k a month.  This must be very large, luxurious and on top of metro[/quote]

How is that relevant?  You bought before interest rates spiked, so of course your 3400 was able to purchase far more house than today.

Even then, a $3400 mortgage payment (just principal and interest) at a 3% interest rate would equate to an $800,000 mortgage or a $1MM home value.  Even 5-7 years ago, was anyone able to buy a decent SFH anywhere close to downtown Bethesda that didn't need tons of renovation for $1MM?  I recall looking at nice houses near downtown Bethesda in like 20010 and it was hard to find a decent place for $1MM.

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