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by jandrewrogers
751 days ago
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At least in many parts of the US, the financial loss of renting is currently less than the financial loss of a mortgage, after subtracting contribution to principal. In Seattle there are places where renting is $2k+/month cheaper than the non-principal carrying costs of the same place. Buying it instead of renting it would literally be lighting $2k/month on fire that you don't need to. A renter can invest that extra $2k/month, so they come out ahead. The cost structure of landlords is often very different than the cost structure of new homeowners. They can make a tidy profit charging rent that is significantly lower than your mortgage payment. |
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