molonskiyou are a n00b, you invest in property at the bottom of...

molonski

you are a n00b, you invest in property at the bottom of the cycle,

lol

renting is silly?

lol

to rent a house worth $280K costs $1K a month

to pay interest on a $280K loan costs $1,600 a month

thats $600 better off or $7K P.A to rent.

When interest rates hit 11% it will cost $2,600 in interest per month, thats $1,600 a month better off.

this is before you pay any of the loan back.

I think your 10 years out of date! renting is silly when interest rates are low and housing is at the bottom of the cycle because the rent is the same if not more than the cost of buying a house. Hence the term "rent money is dead money" Now it is far cheaper to rent than buy,and that saying has not been applicable for a long time

everyone invest in property then, love to know how you pay for it when the interest rates hit 11%, 15%

lol