|Slayer of Agapanthus|
No one likes increases but at least you have nominal title to the property. The rent for an apartment in my area now pretty nearly equals or exceeds the total payment each month for my home loan. We closed in April, 2000. App $500 for tax-insurance, $400 interest, $400 principle. We pay extra prnciple every month.
PF, maybe a part-time job can help you, hospitals, grocery store, or just OT.
"It is only with the heart that one can see rightly; what is essential is invisible to the eye". The Little Prince, Antoine de Saint-Exupery, pilot and author, lost on mission, July 1944, Med Theatre.
I work in the ghetto and run a lot of appts in ghetto apt. bldgs. I was in one last week where the lady told me her rent was going up by $500/mo. I was surprised they could get $500/mo at all for that hovel. But her rent was going from $1100 to $1600. I think my mortgage is $1700 PITI now and it's a nice big house with a yard and a pool. I can't even imagine living in a hovel for nearly the same money and on a fraction of the income.
|Fighting the good fight|
Yeah, that's been the case around here for a while now, even before the crazy housing market of the COVID era.
High apartment demand + low apartment supply = Inflated apartment rent costs.
It's cheaper to just buy a house.
People who can't / won't make good financial decisions for themselves will always be ass-raped. It's the same with buy here - pay here car lots, check cashing places, ABC furniture rental, and all of that other shit. People continue to patronize those places because they made piss poor decisions and can't get a proper mortgage. I have zero sympathy for them.
Oh, I know it. The demographic I work in has gotten every single life decision wrong. You couldn't try to get it more wrong than these folks have by accident. But, if I can save them a few bucks with what I do, I will sleep fine at night.
$1K increase for insurance is crazy
In 2003 I compared what I was paying in rent versus a monthly mortgage on a new 3 bedroom house and it was pretty close - granted I had to move a little further out of the cities to do it. Within the last year they put up at least 3 large apartment complexes in our tiny town and the rent for a single bedroom apartment is more than my mortgage + utilities. I think that's just nuts, but they seem to fill them pretty quickly.
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