AdironRider
Well-known member
- Joined
- Nov 27, 2005
- Messages
- 3,715
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Yeah, because renting in a metro doesn't have the same problem of the landlord raising the rent unsustainably, converting it to an airbnb, or selling it. Most people have encountered this situation before they owned a house in their respective city and its not fun.
Nevermind a mortgage is relatively inelastic, you are bound to just insurance, tax and utility cost increases. For arguments sake let's say maintenance is 2-3% of current market value regardless. That is highly predictable and much more easier managed over time than renting, which inevitably always goes up. Meanwhile, a family who is in year 15 of a mortgage is virtually guaranteed to pay less than they would be renting for the same house in the same area.
I could not imagine getting a 30 day notice of my lease being up and suddenly having to not only find a new place and move, but also have the uncertainly of what my monthly budget would be depending on what rental I could find.
Nevermind a mortgage is relatively inelastic, you are bound to just insurance, tax and utility cost increases. For arguments sake let's say maintenance is 2-3% of current market value regardless. That is highly predictable and much more easier managed over time than renting, which inevitably always goes up. Meanwhile, a family who is in year 15 of a mortgage is virtually guaranteed to pay less than they would be renting for the same house in the same area.
I could not imagine getting a 30 day notice of my lease being up and suddenly having to not only find a new place and move, but also have the uncertainly of what my monthly budget would be depending on what rental I could find.