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CanadianRip

join:2009-07-15
Oakville, ON
reply to ChuckcZar

Re: Voltage Versus Teksavvy, Round 2 Continued

said by ChuckcZar :

With the present real estate crash this gives owners even more incentive to sell before losing their house/houses and declaring personal bankruptcy. Renting is in and owning is out for probably the better part of the next 25 years. Remember the owner gets the letter not the renter. Renters will be the *new* upper class.

I'm pretty sure if you mortgage for 25 years, your mortgage payment will be $ 0 at the end and your Rent payment will be chugging along.

I'd love to see your math on how that works out though.


hm

@videotron.ca

said by CanadianRip:

I'd love to see your math on how that works out though.

I think that would require a couple of hits of acid.

Ree

join:2007-04-29
h0h0h0
kudos:1
Reviews:
·Start Communicat..
reply to CanadianRip

said by CanadianRip:

I'm pretty sure if you mortgage for 25 years, your mortgage payment will be $ 0 at the end and your Rent payment will be chugging along.

I'd love to see your math on how that works out though.

Straying off-topic, but the math isn't as simple as that. Rent may be cheaper, houses have additional costs (property tax, maintenance, possible to rent with heat and hydro included so that could be extra if you own), home values may depreciate, many people like to upgrade so they end up paying a mortgage for far longer than 25 years...the list goes on.

Personally I still prefer owning to renting, but renting isn't as horrible an idea as some people think.


El Quintron
Resident Mouth Breather
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join:2008-04-28
Etobicoke, ON
kudos:4
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reply to hm

said by hm :

said by CanadianRip:

I'd love to see your math on how that works out though.

I think that would require a couple of hits of acid.

I'd like a sprinke of blue microdots on that fantasy ice cream cone please.
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