This has been my experience as well. I'm saving several thousands of dollars a year after about 5 years. I probably couldn't afford to rent my own home. If I stick with my mortgage for the full 30 years I can only imagine how ridiculously cheap my "rent" will be... Not to mention that rent money is going into my own equity instead of a landlord's
I imagine if I were planning on moving within 5 years of purchase renting would be a better deal.
But seriously, in another 5 years I expect I could rent my property and pay my mortgage in full, while taking some profit to help pay another mortgage...
You know - be the thing I despise
Facts!