this post was submitted on 03 Feb 2024
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Yes?
Okay, wow.
You do know rent is just someone with a mortgage on a house too right? (Paid off or not)
And if that landlords mortgage goes up, that will also make the rent they charge go up. ( Often far more than the rent, as it's percentage related. So, if your friend was renting, he'd be even worse off...
Firstly, apartment complexes and the likes are usually owned by bigger companies with more leverage when negotiating loan rates compared to individuals. Secondly, renting a small apartment while holding on to their down payment money / saving even more is clearly gonna be cheaper than buying a 2 bedroom home in the middle of a city.