I swear to god, people think that he just had 2.7 million dollars in his bank account and just... bought a house outright. People are so alienated from the concept of homeownership that they have forgotten that mortgages exist. If you do the quick math, assuming today's rates which are like 2.25% and fixed 30 year at that, he's paying like $10,500 a month. Rent in that area for a 2 br apartment with 1 bath is like $7500 a month. It's just a nice house in a bougie area, with enough room to house the family that lives with him. Big whoop.
I actually don't remember what I put as the downpayment when I did the math, there. I think I did like 200k when I calculated it at the beginning of this shitshow to just have numbers to wave in people's faces that this really isn't anything monetarily extravagant when factoring everything in.
I swear to god, people think that he just had 2.7 million dollars in his bank account and just... bought a house outright. People are so alienated from the concept of homeownership that they have forgotten that mortgages exist. If you do the quick math, assuming today's rates which are like 2.25% and fixed 30 year at that, he's paying like $10,500 a month. Rent in that area for a 2 br apartment with 1 bath is like $7500 a month. It's just a nice house in a bougie area, with enough room to house the family that lives with him. Big whoop.
Oh shit, yeah, I think you nailed it.
Is that 10.5k number after the 20% downpayment?
Either way, paying an extra 35% a month for another 3 bedrooms, a yard, and no landlord seems like a sweet deal if you can afford it.
I actually don't remember what I put as the downpayment when I did the math, there. I think I did like 200k when I calculated it at the beginning of this shitshow to just have numbers to wave in people's faces that this really isn't anything monetarily extravagant when factoring everything in.