The 5 cheapest places to rent in America

hometowngrl53 · #1 02-20-2008, 10:55 AM

The 5 cheapest places to rent in America

In today’s market, a seller’s pain can be a renter’s gain. The regions hardest hit by the subprime crisis are some of the cheapest markets to rent. Wichita, Kan., leads the cheap list, where $470 gets you a brand-new one-bedroom with views of open wheat fields.

read here http://today.msnbc.msn.com/id/23172597/

flippinout · #2 02-20-2008, 12:21 PM

That brings up the issue, if a person can afford $450 and up in rent, why the problem with mortgage payments? Are they not living within their means? Are they buying houses that they cant really afford to begin with and saying they have more assets than they actually have?

Is it bad planning? Not saving 6 months worth of house payments just in case something unforeseen happens? I am very curious about these issues.

Could it also be mortgage companies fudging the loan apps just to make the sale? Or is it lack of good paying jobs to begin with?

thohome · #3 02-20-2008, 05:57 PM

I know that in certain areas to buy a home such mine that I paid $50,ooo for would cost in new york or even columbus Ohio $120,000 easy. so I think it is a combination of all the factors as to why some people can only afford to rent and not buy right away.

That fact that in Dayton you can rent with the option it buy and part of your rent go towards the purchase is something to consider.