this post was submitted on 09 Apr 2024
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Rent is not double the mortgage.
Maybe the base mortgage payment, but you also have to pay for insurance, taxes, maintenance, utilities.
If you can’t get good terms on a mortgage you will also have a higher rate and PMI.
Yes poor people must pay more for the same house, and rent can be cheaper.
Edit- Hexbears: grow up, get a job, buy a calculator, and try to figure out why you are so wrong.
If porky owns all the houses he can raise rent to much higher than "market" rates due to having a monopoly on an inelastic good.