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by Libcat99 362 days ago
8 years ago I bought a house. My monthly rent was 1300 and mortgage/escrow/repair savings were instead 2000. Rent went up $100-$200 a year.

My son is looking for rentals in our same community and the equivalent rental to what I had is now around $3000.

Even ignoring appreciation, in the long term there was a cash flow savings.
2 comments
DrillShopper 362 days ago
> My son is looking for rentals in our same community and the equivalent rental to what I had is now around $3000.

Good for you. Bad for your son or anyone living in your community.

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JKCalhoun 362 days ago
Agree. I wonder though if the tone of your comment doesn't come across as casting blame on the person who got the mortgage years ago.
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DrillShopper 362 days ago
It's not intended to, although it is intended to be blunt.
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RHSeeger 362 days ago
> there was a cash flow savings

... in your case. There was a cash flow savings in your case.

I've moved several times and done the math each time. Sometime it's been more cost effective to own, sometimes to rent. There are a lot of factors that go into that calculation, and the math doesn't always fall on the side of buying. That's especially true if you don't expect to be in a house for decades.

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