booja@booja.ca to Canada@lemmy.ca · 8 months agoYoung people paying 'astronomically living expenses': insolvency trusteewww.bnnbloomberg.caexternal-linkmessage-square59fedilinkarrow-up1140arrow-down14
arrow-up1136arrow-down1external-linkYoung people paying 'astronomically living expenses': insolvency trusteewww.bnnbloomberg.cabooja@booja.ca to Canada@lemmy.ca · 8 months agomessage-square59fedilink
minus-squarepsvrh@lemmy.calinkfedilinkarrow-up8arrow-down2·8 months ago90%? Oh my sweet summer child, rent is normally 150% of the mortgage.
minus-squarePyr_Pressure@lemmy.calinkfedilinkarrow-up4arrow-down1·8 months agoCanada at least. I can get a mortgage for an apartment for $1400 a month. Rent in the same spot would be at least $1800 if not $2000. People buy housing to rent out because it’s profitable right away, they aren’t just “taking the risk” that the house might not go up in value.
90%?
Oh my sweet summer child, rent is normally 150% of the mortgage.
Where?
Canada at least.
I can get a mortgage for an apartment for $1400 a month. Rent in the same spot would be at least $1800 if not $2000.
People buy housing to rent out because it’s profitable right away, they aren’t just “taking the risk” that the house might not go up in value.