America’s Covid job-saving programme gave most of its cash to the rich

Re:America’s Covid job-saving programme gave most of its cas... by giaour on Wednesday February 02, 2022 @12:24PM (#30180678)

I am aware; I was a renter until a couple of years ago. I have rented houses in the East Bay (Alameda, CA) and Seattle, and in each case, my rent was 70%-80% of what the monthly payment on a 30 year mortgage on the same house would have been. The same was true of apartments I rented in Manhattan.

Maybe it doesn't work that way in other markets, but you'd have to be nuts as a renter to pay enough to cover your landlord's mortgage.

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Re:America’s Covid job-saving programme gave most of its cas... by MisterBastahrd on Monday February 07, 2022 @11:02PM (#30254786)

Let me assure you then, that in most markets, you will pay far more than the cost of a 30 year mortgage plus taxes and insurance for renting a house. You're subsidizing the cost of vacancies and also paying for some of the maintenance.

A 3 bedroom, 2 bath home in a decent but inexpensive part of the DFW where I live will run you $2K per month. These prices will skyrocket as rental prices catch up to the mortgage market. But just for comparison, 2 years ago that same house would have been on the market for about $220K and would have had a monthly mortgage of about $1200 a month on a 15 year loan or $800 or so on a 30 year loan.

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