Isn't this generally always the case? I've always understood that when you buy you should expect to be paying more than a renter for maybe 5-10 years. At least in the US mortgage payments are almost always fixed whereas rents are almost never fixed or controlled. Rent just rises forever in most cities and usually mortgage payments of people who have owned for 10 years look like amazing bargains.
No. When you rent, you usually are paying (1) the owner's mortgage, (2) taxes, (3) maintenance and (4) profit. So renting the same place is almost always much more expensive than the mortgage payment. Rents do not have to rise. They have been rising in most cities because people are moving to cities. Rents dropped in Detroit when a lot of people left. (Rents also rise with inflation.) I do wonder about the data. It c…
In what world is this usual? Most of the time when renting you're paying for a single floor of a house or a single condo unit. It would be insane to expect people who are renting a portion of a building to pay for the whole damn thing.