[quote=no_such_reality] . . . With a down payment as low as a security deposit on an apartment and a monthly payment at half of what it costs to rent, it’s a no brainer.[/quote]
When you add in 1/12 property taxes, 1/12 insurance premiums and HUGE monthly MIP premiums to the P&I, I doubt seriously it is cheaper to buy than rent every month, particularly in this part of the (gridlocked?) IE. And I don’t see this subset of buyers qualifying for the lowest mortgage rates, either.
How much does is cost to rent an 1800-2000 sf 4/2 there? And are they really “worth” ~$180K today??
