Er, because the rent on a $200K place is going to be more like $750 a month indicating the market is extremely overvalued due to lax credit conditions.
"Er, because the rent on a $200K place is going to be more like $750 a month indicating the market is extremely overvalued due to lax credit conditions."
Not here in north east ohio - and we're not really a high rent area. Nonethless, here an $80k single family home (no kidding) cn rent for around $750/month.
And a $200k home, that's going to rent for around $1200 - $1500 /month.
Man you've got to be kidding. Rent on $150k houses is in the $1300-$1400 range in Dallas.
A house can easily rent between 1,000- 3,000 dollars all over California. In almost any town.
3 years ago a house could be bought in a number of places for under 100,000 dollars at 5-6% interest. On a 30 year that comes out to about 600-700 dollars per month. These same houses easily rent for 800-950.
6% do you not understand what that means?