[jimberlage]

I think the problem with getting this done in the US is the lack of public transit and the dysfunction in public schools.

If you could avoid a $700 car payment and still get to school/job/grocery store on time, a lot of Americans would.

But if you can't, and you are paying $700 anyways, why not at least use the fact that you're paying $700/month to travel anywhere and get a bigger parcel of land all to yourself? There's a big incentive to have single-family homes for rent as long as that math is true.

And if you can live in a dense area and get around OK, but paying $700/month saves you from $800/month in private school payments, then the math might still make renting SFH better even if the transit is there.

[cpburns2009]

No body is forced to have a $700 car payment. That's a luxury financing $30k+ on a brand new or nearly new car.

[jimberlage]

True (I certainly don't!) but I chose it because I had to do some research a while back and that was close to the average for Americans.

[1]: https://qz.com/average-car-payment-by-state#average-car-paym... [2]: https://www.lendingtree.com/auto/debt-statistics/

[cpburns2009]

That's actually shocking. I've been in tech for 15+ years and have a good income. I've only recently purchased a new car instead of used, and with a monthly payment right by my state's average. Prior to this I never had a payment more than $250/mo.

[curious_curios]

Though with gas, maintenance, insurance on top of the car payment, that $700 is probably the floor of car ownership.

[cpburns2009]

Those will vary vastly depending on where you live. Gas and insurance are high where I live, and even though the environment is harsh on cars (winters with salt), maintenance has never been much.