o.supreme wrote:
...eh, not so much. I may be jaded living in CA, but I'm not exactly in *the big city*, but average apartment rent for one bedroom is around $800. Mortgage Payments for a *single-family-home* can range anywhere from $1500 to $2500. Even one of my relatives who lives in Idaho where cost of living is far less, her Mortgage Payment is $800, and she purchased her home 20 years ago. Still. I'm not completely out of the loop. I work in the mortgage industry, I know there are several homes that are paying a $600 mortgage, or less. But of course, those homes/families are not looking at $600 toys to say the least.
As an odd point of interest, in my area (northern Indiana), it is actually cheaper to own a home, than rent an apartment. See, good or even okay credit is hard to come by, because people are stupid with money, so mortgages are hard to get, but anybody can rent an apartment. Average pay is decent, thanks to the RV industry booming the last decade, so people can afford the higher rent.
Average house payment: 600
Average apartment: 700