| > The international investors with deep pockets own very, very, very few properties compared to regular people. Doesn't matter, a rising tide raises every boat. The point is that property prices have diverged from rental income, because low-interest credit from around the world is chasing properties, while stagnant wages imply stagnant rental income. > What if you lose the ability to pay rent? How does that make you any better off? I don't have to foreclose. > I have a mortgage with 75% of the principal left to pay, where the interest on the loan is somewhere between the third and the half of what I'd pay in rent for equivalent property. Between a third and a half? That sounds like a lot. > If I was renting instead of paying mortgage, I wouldn't have any cash to keep to invest elsewhere anyway. So you're saying your mortgage payment, taxes, insurance and upkeep is equal to rent? Where the hell do you live? > You can also sell your house/condo and move somewhere else, at any time. At any time? Yeah, good luck with that. |