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Comment of the Day

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"OK, I couldn't resist running the tenant-occupied unit through the 'rent vs. own' calculator on the NYT. Assuming a 10% downpayment and a modest 1% tax rate (since quoted taxes clearly reflect an abatement) and 3% annual appreciation on sale as well as increase on rent, you lose money as a buyer even on a 30 year time horizon and even after five years would be saving over $30K per year by renting! The current owner must be losing his/her shirt right now."?eeeck [Curbed House Call: Penthouse Madness at McStarck]