From what I scanned over briefly, you seem to be giving good advice. I know for a fact that plenty of people rent out homes and condos for more than the mortgage payment. For example, the payment on my condo is around $550, plus $150 association fee. So figure I'm at $700 + utilities a month. A lot of the condos in my complex are rentals, and they usually go for $900 up to $1200 a month. A lot of people are too afraid/lazy/unmotivated to try and buy a place, and it costs them. A lot of people also have terrible credit and would get a high interest rate if they were buying. So there's plenty of reasons why renters pay more than they need to.
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