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Politics : Ask Michael Burke
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To: Freedom Fighter who wrote (78404)3/23/2000 9:30:00 AM
From: BGR  Read Replies (1) of 132070
 
Wayne,

The fact is that rents are already outrageous. The apartment that I live in presently will probably sell for 275 thousand. I pay 1900/month in rent. Now, at 7% mortgage rate and adjusted for itemized deduction (a shame as it penalizes renters) the monthly payment is around 1500 (with zero down). So, this is a fountain of money as the owner is getting 400/month on 0 capital investment.

-BGR.
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