@booja@booja.ca to Canada@lemmy.ca • 3 months agoYoung people paying 'astronomically living expenses': insolvency trusteewww.bnnbloomberg.caexternal-linkmessage-square63fedilinkarrow-up1141arrow-down14
arrow-up1137arrow-down1external-linkYoung people paying 'astronomically living expenses': insolvency trusteewww.bnnbloomberg.ca@booja@booja.ca to Canada@lemmy.ca • 3 months agomessage-square63fedilink
minus-square@psvrh@lemmy.calinkfedilink6•3 months ago90%? Oh my sweet summer child, rent is normally 150% of the mortgage.
minus-square@Pyr_Pressure@lemmy.calinkfedilink3•3 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.