Most landlords bought the place earlier when home prices and mortgage rates were lower, or they just own the place outright and don’t make any mortgage payments.
This article is about choosing whether to buy at current rates or rent at current rates. If you bought a place 10 years ago for half the price it’s worth now and a 2% interest rate then you’re probably going to be paying less then renting
I am confused, my thought process went like this:
So it’s more expensive to own then rent?
Unless you own it and rent it out to others?
Nobody would be a landlord if a dwelling cost more to maintain then to rent out.
So something doesn’t add up.
Most landlords bought the place earlier when home prices and mortgage rates were lower, or they just own the place outright and don’t make any mortgage payments.
This article is about choosing whether to buy at current rates or rent at current rates. If you bought a place 10 years ago for half the price it’s worth now and a 2% interest rate then you’re probably going to be paying less then renting