Quote:
Originally Posted by DaFace
Again, there's a huge caveat that I got really lucky and bought in the bottom of the housing bubble's burst. And another bubble bursting could cut that down dramatically.
But yeah. I have friends who are paying $500 more per month in rent on a 1000 sf apartment than I'm paying for my mortgage on my 2500 sf house.
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Yeah, I would see that in KC a lot, and the housing market is insanely cheap compared to out here. You could find a decent apartment (several years ago) for ~600-750/month, but friends would want the fancy $1100+/month place while I was paying $700 on a 15 year mortgage (and I wouldn't do the 15 year again when I could just pay extra on a 30, but whatever)..... I didn't do much more than break even overall, but at least got 5 years of equity back, whch was still far better than renting.