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Capitalism illustrated (media.mas.to)

submitted 9 months ago by [email protected] to c/[email protected]

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[+] [email protected] -15 points 9 months ago (3 children)

"Lemmy doesn't have the hive mind like that toxic Reddit."

Meanwhile, you get downvoted because you're right 🤦

For everyone downvoting, go compare Craigslist rent prices to Zillow/Redfin listing prices with 20% in a major city.

You are of course right, at least for my part of the world (high CoL USA city). Renting a 3 bedroom will run 4k for something modest (5 or 6 for something nice maybe?). Buying a 3 bedroom will run 10k or so with 20% down. Buying is definitely more expensive in the short term (long term is another story).

Only way for mortgage to be more than rent is for something purchased a while back, or for a new purchase with a large % down payment. Which absolutely happens, but sheesh, parent isn't wrong...

[–] [email protected] 24 points 9 months ago

Wait your position is that landlords are renting out places in major US cities at a lower cost than the mortgage? Are they billionaire philanthropists?

[–] [email protected] 6 points 9 months ago

They were down voted for treating hyperbole as a "gotch ya!" It doesn't have to literally be twice the cost of the mortgage for the fact to stand that renting is more expensive than owning.

It's not a "hive mind" thing, it's a "missing the point" thing.