Tell me about it. My rent is $1300/month. A $350k house (cheapest in my area) is $2500/month for mortgage with 20% down!
It’s conpletely financially unfeasible for me to buy a house at that rate!
But better in the long run as rents go up.
That’s nuts. Sad to hear that.
The numbers are almost reversed where I live, in Virginia, near D.C. We pay less than 2/3s in mortgage and escrow than what the exact same house next door rents for.