this post was submitted on 31 Aug 2024
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In my area:
So, my mortgage is currently cheaper than the apartment I used to rent that was 1/4 the size with 1/2 the bedrooms, and my house would cost more than twice what it would if I bought with today's valuations. So over 10 years, both have approximately doubled. Regular inflation would put that instead at $860 rent and $1560 mortgage.
And we're far from the hardest hit area in the country, housing these days is just nuts.