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by notauser
1725 days ago
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That's because rent of $1.5k is for the whole of a house, whereas the mortgage is only covering whichever part of the house you don't own. My rent would be $3k, but I own one third of the house, so my mortgage is $2k. The alternative would be paying $3k in rent and investing the $100k in equity. The cash-flow from the equity investment would off-set some of the cost of renting. |
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