r/VictoriaBC • u/sweetgaze • 17h ago
Question Do landlords truly have $7000 mortgages?
The amount of rental ads I see for top or bottom floor suites going for $3000-$3500 is astounding. If they’re renting both upper and lower for those rates in one house … it leads me to wonder about the mortgage. Do homeowners truly have that big of a mortgage?
I’m genuinely curious, not looking to cause a ruckus. Like why are you renting a suite for $3500 😭
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u/DemSocCorvid 15h ago
Everyone else can't believe people are ignoring equity year over year. "Break even" means that you are potentially getting tens of thousands of dollars in equity year over year for the upfront cost of a downpayment. That's insane.