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Hm. I guess. A house can also just be a home. Not every buyer is looking for a return. Some people just want a home, and a mortgage is often cheaper than rent. A mortgage payment is locked in, unlike rent, which will always go up.
Also, not paying a mortgage or rent for the last 30 or so years of your life, if you stay in the home, is quite a lot of savings.
a mortgage right now is 900 a week, plus insurance and rates at another 130 a week. Rent right now is 500 - 600 a week. 5 years ago, mortgage was 600 a week plus rates and insurance, and rent was 350 a week. It's always cheaper to rent until your twenty odd years into your mortgage, at least.
Welp. A mortgage is not 900 a week. A mortgage depends on a) how much you borrow, b) your interest rate, c) the money you put down, and other negotiations. I was recently renting for 800 more per month than the new mortgage+tax+insurance.
it is where I live. No properties here for under 650k with interest at 6.5%. make it make sense, housing here is a complete shit show.