Correct. In capitalism one must profit off the necessities of life.
Also, when you buy a house, the cost of the mortgage is locked in…assuming you don’t do an adjustable rate mortgage which were never designed for long term homeownership.
Yessum. I knew someone who put 20k down on a house after saving for awhile, this was back in late 2010s. Locked in $385/mo. Still had the yearly taxes, which weren’t the worst.
Could that be because those homeowners are charging rents high enough to cover both mortgage and insurance and more on the rented property?
Correct. In capitalism one must profit off the necessities of life.
Also, when you buy a house, the cost of the mortgage is locked in…assuming you don’t do an adjustable rate mortgage which were never designed for long term homeownership.
Yessum. I knew someone who put 20k down on a house after saving for awhile, this was back in late 2010s. Locked in $385/mo. Still had the yearly taxes, which weren’t the worst.