Re: How much can I afford to pay in rent?
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Get an adjustable rate mortgage for a lower rate/payments
Thats just bad advice.
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Feel free to elaborate.
Based on your other post (very good BTW), your argument for rent vs. own is quite good for many markets. And I'm sure you'd agree that this is not the case in every market across the country.
I was not attempting to compare rent to own, rather ARM's vs fixed.
My argument:
1) ARM's have lower rates compared to fixed. In CT the avg difference is over 1/2 %, hence lower payments.
2) OP insinuated a desire to be able to move within a few years. A 3/1 or 5/1 ARM would be fine in this situation.
3) If I bold it, my criticism must be right, is actually just plain annoying...
4) OP has yet to inform us where he is looking to live.
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