booja@booja.ca to Canada · 8 months agoYoung people paying 'astronomically living expenses': insolvency trusteewww.bnnbloomberg.caexternal-linkmessage-square61fedilinkarrow-up1141arrow-down14
arrow-up1137arrow-down1external-linkYoung people paying 'astronomically living expenses': insolvency trusteewww.bnnbloomberg.cabooja@booja.ca to Canada · 8 months agomessage-square61fedilink
minus-squareNik282000linkfedilinkarrow-up15arrow-down1·8 months ago…and that the rental price isn’t 90% of the mortgage payment.
minus-squarepsvrhlinkfedilinkarrow-up8arrow-down2·8 months ago90%? Oh my sweet summer child, rent is normally 150% of the mortgage.
minus-squarePyr_Pressurelinkfedilinkarrow-up4arrow-down1·8 months agoCanada at least. I can get a mortgage for an apartment for $1400 a month. Rent in the same spot would be at least $1800 if not $2000. People buy housing to rent out because it’s profitable right away, they aren’t just “taking the risk” that the house might not go up in value.
…and that the rental price isn’t 90% of the mortgage payment.
90%?
Oh my sweet summer child, rent is normally 150% of the mortgage.
Where?
Canada at least.
I can get a mortgage for an apartment for $1400 a month. Rent in the same spot would be at least $1800 if not $2000.
People buy housing to rent out because it’s profitable right away, they aren’t just “taking the risk” that the house might not go up in value.