• jonne@infosec.pub
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    1 month ago

    At least you can’t get kicked out or have your rent raised for arbitrary reasons. Some renters are basically moving every year.

    • Scratch@sh.itjust.works
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      1 month ago

      Mortgages can change repayments amounts as the central lending rate changes.

      We’re in a squeeze in Canada right now because rates went up and a bunch of mortgages are up for renewal. (5-year fixed rate is standard here)

      • mephiska@fedia.io
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        1 month ago

        Mortgages can change repayments amounts as the central lending rate changes.

        Not in the US if you have a fixed rate mortgage, and most do. There’s tons of people who locked in rates at below 3% back in 2020-2021.

      • jonne@infosec.pub
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        1 month ago

        It went up a little, but nothing compared to the equivalent in rent you’d pay for the same place.

        • Avid Amoeba@lemmy.ca
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          1 month ago

          It’s actually pretty comparable for me. My mortgage went up 40% which made the whole monthly cost of housing go up by 28%. Rents in the same building went up similarly but actually haven’t quite caught up.

      • Fushuan [he/him]@lemm.ee
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        1 month ago

        In Spain you can decode between fixed or variable rates, and although fixed rates are usually a bit higher, having the peace of mind that suddenly the mortgage won’t raise next month and being able to plan around a fixed monthly cost is such a big peace of mind.

        Fixed rates are the best.

        • Scratch@sh.itjust.works
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          1 month ago

          Fixed rates are safer, for sure.

          But during the pandemic, when rates went to near zero, I was very glad to be on a variable.