Yes every time I do the math I come to the same conclusion.
And then I'm proven wrong by unexpected price appreciation.
The thing that tips the scale is a house has way more square footage. You're worse off solo paying rent vs mortgage, but with that extra space you can host an Airbnb and come out ahead.
> Eventually it will become infeasible—the prices get too high and you run out of suckers.
People say that.. but it hasn't happened, barely a lull. I think that's a very local-centric opinion. Visit other dense cities around the world. Demand to live in cities increases with time as the city offers more economic opportunity and tourism. And supply is mostly fixed (for a given unit area) due to zoning laws.
I'm still considering to be one of their suckers in Toronto.
And then I'm proven wrong by unexpected price appreciation.
The thing that tips the scale is a house has way more square footage. You're worse off solo paying rent vs mortgage, but with that extra space you can host an Airbnb and come out ahead.
> Eventually it will become infeasible—the prices get too high and you run out of suckers.
People say that.. but it hasn't happened, barely a lull. I think that's a very local-centric opinion. Visit other dense cities around the world. Demand to live in cities increases with time as the city offers more economic opportunity and tourism. And supply is mostly fixed (for a given unit area) due to zoning laws.
I'm still considering to be one of their suckers in Toronto.