this post was submitted on 30 Aug 2023
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Itβs crazy how most of my friends are paying more for their 3 bedrooms apartment than I pay for my 5 bedrooms plus basement single home. That includes all expenses for a home owner except renovations budget. The landlords are probably abusing with skyrocket profits.
I tried explaining that a little bit back, that my house is cheaper for me to own and live in, including ALL expenses, than current apartments of much smaller size, and some person (probably a landlord) engaged in a back and forth with me basically calling me a dirty liar over and over.
I bought a house (since sold, moved cross-country) literally because it was cheaper to do so. You get the asset of the house, and cheaper mortgage payment. Went from a "2" bedroom house (the spare bedroom was slanted) house from the 1930s with windows just as old, dirt foundation, no AC, and holes in the floor for plumbing (very effective for keeping mice out.......) into a 3 bedroom house for $400/month cheaper. Housing market is fucking insane over the last 5 years, if not longer.
It's like people/companies are buying houses because "it's the smart thing to do" against high interest rates, so they need to charge more for rent, which drives people to buy houses on higher interest rates, which pushes rent higher, and it just cycles infinitely upwards.