Burbed reader Jeff sent this in recently:
is it better to pay $934 a square foot, or rent for $1500 a month? Hmmmmm.
Obviously it’s better to pay $934 a square foot. Just think of the tax write off on the mortgage income deduction. And more importantly, just think – you get to tell all your friends you own a home in Brisbane. With a low $3263 mortgage.
Otherwise, you’d just be throwing away $1500 a month by renting the same house.
Besides, as we all know, inflation and appreciation are going up. So by next year, this house will be worth $800,000, and your rent will go up to $921304 a month.