How much is your rent /mortgage?

[gonelifting]

>Makes a lot of money

Yeah, but in other news the bubble i just read has burst. Meaning those who overpaid last month or last year are finding their house values are dropping like flies. Meaning they're LOSING money every month now. They're fucked. We could see a crisis, especially in big urban areas like LA soon if this keeps up.

I feel sorry for anyone buying a house in LA now. That $600k house could be worht $550 next year. Mortgages don't come with GAP insurance.

Yes you can lose money in a bubble, but depending on how long you`re planning on keeping the property, you can still make out. One good example, in the late 80`s my friend bought a 2 family house in NJ for $514,000. He lived there with his family a long time and rented out the top floor for a large amount of money (at the time) Then the housing market fell through and he sold the property for a steal at $395,000. That`s a huge loss. Well now that same house goes for Minimum $700,000`s maybe more, I would think.

My point is, if you hold long enough, you`ll make the money back. It has it`s ups and downs, but the long term trend is always up.

 

[caseynyc]

My apartment is in NYC, it's embarassing how much my rent is.... and it's not tax deductable....

My office is in West Chester, housing prices there are UNREAL. As far as the high mortgage rates go, its a function basically of your credit, and how much you have for a down payment. That's why eventhough rates are set to rise if you purchase the home now and in the next few years either your credit improves, or the LTV on the loan drops due to a higher appraisal value you can actually save some money... and yes the PMI drops off any type of loan, but you'd be crazy to refi anything that's a HUD loan as they are usually less then 5%.

 

[daveyboy]

4 bedroom ...2.5 bath.. 2-story with 2000 sq. ft. Monthly pmt is $1100. That includes PITI.

 

[Testosterone boy]

I built one house and the other was rented out for 15 years so I do pretty well in this area.

 

[SC4EVA]

wow.. im on NJ's "gold coast" Paying about 2000 a month for mortgage/insurance/tax/common charges.. 1 bedroom with parking spot

 

[GoldenDelicious]

zero. and i live on the beach

 

[Deterass]

$800.00 a month for a nice three bedroom,1,680 sq ft.

 

[kunta]

1850 month mortgage 1400 sqft townhouse in Florida

 

[MattTheSkywalker]

A lot....a real lot.

For all residences..more than $20K per month total...

The current primary residence is about $6000 per month, plus another $2100 for the apartment while the house is built.

Yeah, rent and a mortgage. it;s fucking great!

 

[Mr. Black]

I pay a $580/month mortgage for a 1200Sq ft 5 bedroom house.