A Boring Dystopia

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Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.

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Rent is theft (lemmy.world)

submitted 3 months ago by zedgeist@lemmy.world to c/aboringdystopia@lemmy.world

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[–] jj4211@lemmy.world 1 points 3 months ago

rent prices are well above mortgages

So this is even in the USA over here not seemingly universal. Hitting up some detached housing in Zillow in my area, even with 20% upfront, mortgaging 80% over 30 years, the minimum property tax+mortgage+insurance on a house that might be $3,000 based on the sales price of other houses in the neighborhood in the past year, the typical rent is about $2300... So absolutely someone renting out a mortgaged property in this area is paying for that equity while the renter can come in with a modest deposit and get maintenance taken care of at a much lower rate than even a 30 year mortgage. At least the rental market here seems to be aggressively competing with 30 year mortgage payments with 20% down sort of picture...