• derf82@lemmy.worldEnglish
    401·
    11 months ago

    If renting doesn’t make sense at half of what it costs to pay the mortgage, how does the mortgage make sense

    Where on earth is renting cheaper than a mortgage?

    Let’s say it’s in Orange County where the house is $800 grand," Cardone said. "You’d have to sell the house for $2 million just to pay the interest bac

    As opposed to paying even the same in rent, where you get NONE of it back?

    assuming a 3% annual increase in rent

    Lol, what planet do they live on?

    • CancerMancer@sh.itjust.works
      7·
      11 months ago

      On that 800k house, it takes a little over 30 years to get 2 million out of it if the house appreciates at 2% per year. Housing in many places has appreciated much faster than that (much faster than the market or any other single thing, including cryptocurrency)

      • yaaaaayPancakes@lemmy.world
        1·
        11 months ago

        And this is why we have a housing shortage. Because it’s in the financial interests of owners to restrict the building of housing.