Quote Originally Posted by BradS View Post
The simple fact is, as originally stated, if one can afford a reasonable down payment and can qualify for a market rate 30 year fixed rate mortgage, then the mortgage payments on a single family detached house will be lower than what one would expect to pay to rent the exact same home. Case in point: my own home, a modest three bedroom, two baths 1500 square feet. Monthly mortgage payment is around $1500 (principal, interest property taxes). Were I to rent this house, I could easily rent it for $3000 per month...maybe more. The market here is such that I could also sell the house for more than double what I paid fifteen years ago.
If that's the situation I don't understand what prevents you from renting your house for $3000/month and buy on mortgage another house for $1500/month.