But who says just b/c you can buy a house for what it would rent, that people would buy?
IF banks are requiring 20% down, many people don’t have that amount.
Say they go w/3% FHA, there is a cap on how high they can go.
Also, now they have to prove they are making what they say they’re making. Can be a problem qualifying.
Also, you have to have pretty impeccable credit nowadays.
These are factors to take into consideration. It makes perfect sense to buy if the mortgage equals the rent, but now you have to take into consideration other obstacles.
