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One financial rule of thumb is that your mortgage payment doesn't increase 5% a year. In fact, it may go down when/if you refinance to a lower rate.

Hmmmm, our current PITI payment is $1200/mo less than the payment when we bought it in 2006. For sure, rent would not have decreased like that.

The opportunity cost of the equity increases as the mortgage is paid off making the 3% mortgage/ opportunity cost the same regardless if the money is tied up in in equity or a mortgage.

However, I didn't see in the calculation:

- property appreciation which the landlord gets
- advantage of leverage when owning with a mortgage, margin exists on stock, but the risks are vastly different.
- in some areas (CA for example) property taxes on home you own are fairly static

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