Quote:
Originally posted by Joeaksa
Will never rent anything again unless forced to. You are paying someone else's morgage payment and they make money when the property appreciates.
Just the way I feel but my house has gone from $205k to over $500k value in 5-6 years. Hard to beat an investment like that.
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True, but I wouldn't bet on that happening in So Cal any time soon. Also, rent there isn't really paying someone else's mortgage (at today's values). If buying is $4K and renting is $2K, you are paying only half of their mortgage. If it makes you feel better: They are paying YOU $2K to live there!