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Bob is in Camden, New Jersey, discussing the idea of purchasing a home with a land lease agreement as a middle-of-the-road solution. With this option, he can buy a smaller home for $100,000 and pay $800 a month for the land lease. This structure allows him to own a home without a mortgage, avoiding high rent prices while also not committing to traditional homeownership. It's seen as a good compromise between renting and buying a traditional home.
