$1175 cheaper than owning? That's the equivalent of the mortgages on 2 decent homes in Detroit.
I've been considering renting my home out. A full 2 story 1,700 sq feet 3 bed 1.5 bath in hamtramck. My mortgage is $550. My comparisons have shown that I would be lucky to get that. Not to mention the increase in non homesteaded taxes hefty heating bills for tenants and on and on.
I'd agree that the housing market is a mess, but at least when you are paying a mortgage you are throwing money down your own hole than throwing money down someone else's hole when renting.
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