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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (78404)3/23/2000 9:30:00 AM
From: BGR  Read Replies (1) | Respond to 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.



To: Freedom Fighter who wrote (78404)3/23/2000 2:14:00 PM
From: Earlie  Read Replies (1) | Respond to of 132070
 
Wayne:

Also we must plug in the rent increase restraint created by cities/towns/provinces that initiate rent controls of one sort or another. Of course after a while, you end up with plenty of people sleeping in the streets because no one is interested in building new rental units, but what the heck.

Best, Earlie


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