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re: Homes in upper middle class neighborhoods going up for rent
Posted on 5/16/24 at 9:47 am to yaboidarrell
Posted on 5/16/24 at 9:47 am to yaboidarrell
Other than not wanting to deal with yardwork, I don't understand why people will pay $2K a month rent instead of buying.
Posted on 5/16/24 at 9:55 am to kywildcatfanone
quote:
I don't understand why people will pay $2K a month rent instead of buying.
Because buying would require you to pay 2-3x that per month. I'm one of those people right now. Just waiting it out. Though I'm paying a lot more than $2k per month in rent
Posted on 5/16/24 at 10:38 am to kywildcatfanone
quote:
, I don't understand why people will pay $2K a month rent instead of buying.
Because $2k a month in mortgage might get you a $240k house with today’s mortgage rates. And if you pay that much for rent then there probably aren’t decent homes for $240k where you live
Posted on 5/16/24 at 2:07 pm to kywildcatfanone
$2k a month is approx $280k. In my area according to zillow that gets you a 1k sf trailer but you still have to lease the land, 7k sf vacant lot, or a van down by the river. So instead we rent a very nice apartment for now.
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