How much does this type of house goes for in rent? Since it sold for around $380k in 1997, taking in a conservative 3% inflation, that would bring it to about $550k in 2009. $550k at 6.5% interest rate and 0% down, you’re looking at ~$3500/month in mortgage. $700k at 6.5% interest rate and 0% down, you’re looking at $4400/month in mortgage. Which number would be closer to rent? If the bottom last time bring mortgage to = rent, then I think it would be safe to assume the bottom this time would be similar as well.
