But if we’re tenants we’re in a great position because rising rates will CURB inflation, not encourage it, thus making it more likely for our rents to stabilize. There is 0 reason to buy in this market.
Great reasoning to rent. If you buy any property at a great price, I believe it still makes more sense in terms of building equity and monthly mortgage vs rent payment. It really depends on the person’s lifestyle. However if a new landlord purchases a property to rent out in this market with a higher rate, to profit off the higher monthly mortgage, they usually would increase rent. If you’re currently a tenant, it may not be a problem because you’re already leased in.
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But if we’re tenants we’re in a great position because rising rates will CURB inflation, not encourage it, thus making it more likely for our rents to stabilize. There is 0 reason to buy in this market.
Great reasoning to rent. If you buy any property at a great price, I believe it still makes more sense in terms of building equity and monthly mortgage vs rent payment. It really depends on the person’s lifestyle.
However if a new landlord purchases a property to rent out in this market with a higher rate, to profit off the higher monthly mortgage, they usually would increase rent. If you’re currently a tenant, it may not be a problem because you’re already leased in.
What are the rates right now?
Rates remain in the low 3%s as of Jan. 17th 2022.
Cleann