7 ms·

Not in New York.

• cramsession 1y ago
  Rents in New York are notoriously high.
  • const_cast 1y ago
    That's because real estate is notoriously high. Also, if you're buying in NYC you WILL get recurring and increasing monthly costs. That $800/month HOA? Yeah, it's not gonna be $800 in 5 years. Buying is not the same everywhere.
  • dbish 1y ago
    Yes and they’re still much lower than buying an equivalent place. I’ve looked. Almost twice as much for a mortgage of a similar space for what I rent right now after putting 20% down. Only reason it makes sense to buy is if you really plan to keep the place for decades.
    • jjav 1y ago
      > Yes and they’re still much lower than buying an equivalent place. Of course renting will be cheaper than buying an equivalent place. Most of the time in most places that's the case. My point was this is true in the year of purchase and for a few years later. Over time (and you'll need to live somewhere your whole life) it will become cheaper. And then a lot cheaper. Rent will only ever go up.
      • mleonarde-opv 1y ago
        To each their own: https://www.militaryonesource.mil/moving-pcs/housing/renting-vs-buying-after-a-relocation/ https://www.militaryonesource.mil/moving-pcs/housing/renting...