When I lived in Orange County CA my rent was $3500 a month on a house that was worth $1.2 million.

Find me a specific 3 or 4 bedroom home for rent in location like Ottawa at all...

I wonder why renters don't just rent a car instead of buying one?

only problem in that pic is there should be two different houses. The fact that it's spelled out so clearly for you yet you still don't understand is alarming



Nope. Rent is decreasing. Rent is half of what a mortgage costs here...

When interest rates go up, rentcels pay the difference to landlords.

Let's take the average in San Diego: Median price of a home is 899k according to realtor.com. Average rent is $3400 according to Zillow.

Mortgage at 4% on 810k (so assuming 10% down) is $4260 per month. Throw property taxes on that and it's probably over 5k. So that's not half, but it is far cheaper to rent.

If you do the numbers in most major cities it is the same - the people making money on rentals are the ones who bought years ago, not investing currently.

Some cities it's even worse. City of Toronto average market rent for a single family home is $3500. Average sale price for a 3 bedroom townhouse: 1.1 million. Detached is 1.3 million. So mortgage and property taxes is over 6k.https://www.zolo.ca/toronto-real-estate/trends

And if you look at that chart for average housing prices you'll see negative numbers in every column. Those are stats straight from MLS.

Its still worth $625K all day, Both houses on each side of me are rented. One for $1900/mo, the other for $2200/mo.

That's actually terrible for a $625k house lol

Exceptions do not disprove the rule.

I am tied to real estate and I would assume Anachron is as well. Where my properties are, rent is going up. (Several cities in Tx with highest increase being Austin Tx) Id like to understand what city you are speaking of in which equivalent houses are half of a mortgage for rent. It would be interesting to understand as admittedly, I only am concerned and focused on where I have investment.

My background is pretty well established here. I work for a prestigious investment bank in Sydney and have worked in NY and London. I also own property, but bought ages ago and even 15 years ago realized it was mugs game.

But yeah sure mate, owning land outside of New York or cali is worthless.

You’ve admitted to earning less than AUD$200k in total remuneration

Ie less than most tradies

Yeah my salary. I get bonus. Like the the same way you get a carton of piss after you pave the drive way, I get 6 to 12 months of my salary.

130k plus bonus 20k working for top tier investment bank in the FO, work normal hours though.

I consult on side which will be another 60k
I have a side education business which is exploding right now but I’ve predicted that earn about 20 to 30k I honestly believe that at scale I’ll probably get it much higher in the next few years so a lot of work building that.

I work about 60 to 70 hours a week though I also live in a rich part of Sydney unlike gojirra who lives in a surburban ****hole. I also have two kids one in London one in asia for which I’m basically paying for an apartment in London to keep that bich happy, but I’m in shape and still fcuk younger girls so it’s good.

The key is that I’ll be living half in Latin America and half in Asia by the time in forty but still pulling in 150 to 200k to cover costs and love a good life. I have two apartments jn Perth but pay minimal mortgage and they are still years away from being paid off, I’m thinking of buying ankther house in a couple years as Australian property prices are collapsing. I’m also qualifying to be a immigration lawyer in Australian now but it’s on pause for another 6 months. But this will allow me to make sig fugues as my own business wherever I want. Plus my other sources of income.

I’m very dynamic though and well educated. Most Americans especially on misc never leave their home towns so for this reason alone most people will never make this kind of income. Rather just whinge on here.

I also don’t drink and if I went out just one day a week drinking none of this would be possible. I attribute my success to almost 10 years of sobriety and if I had not waste 18 yo 27 drinking and drugging who knows what else I would of achieved maybe I would be worth 10 million or an expert in my field either way it’s the journey that makes the man.

Another point they is the reality here that American didn’t understand is that you average Australian is 6 times wealthier than your average American so one day my parents will die and me and my sister will receive about half each of the 6 million In property assets which is not that unusual if you grow up in Australia.

If the bolded is true...

Just LOL @ koalacels srs.

But I'll wait for Gojirra to confirm - have hard time believing.

Koalarekt.

30 to 40% less??

LMFAO

Kunt is buying into the misc rentard cope