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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (56303)6/18/2006 11:16:15 PM
From: SouthFloridaGuyRead Replies (1) | Respond to of 306849
 
I'll remember that next time I write my rent check to the landlord who charges me rent to cover his mortgage based on his 1999 purchase price...and no, he can't rent it for more.



To: GraceZ who wrote (56303)6/19/2006 2:35:04 AM
From: John VosillaRead Replies (1) | Respond to of 306849
 
"The longest time period you can predict is for the life of your lease."

Even that is questionable if your landlord is highly leveraged with option ARM's these days. A foreclosure normally wipes out any leases and then the tenant is at the mercy of either a bank or investor who bought at the courthouse steps.



To: GraceZ who wrote (56303)6/19/2006 9:06:41 AM
From: MoominoidRead Replies (1) | Respond to of 306849
 
Around here I would doubt that the mortgage payments are going to be 85% of your costs. And how many people don't move for 30 years in the US? Also I think of the cost of buying as including the opportunity cost on capital invested. I grew up in Britain where ARMs were the norm, maybe I never adjusted my thinking to fixed rate mortgages. I wondered about why the institutional difference between the countries...


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