Homes condos Montgomery Md Rockville Gaithersburg Germantown, Short sale foreclosure expert: U.S. Home-ownership is Still 38% Cheaper than Renting!

U.S. Home-ownership is Still 38% Cheaper than Renting!

Two great articles that provide reassuring data to potential Buyers that are still on the fence. "...at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally, versus being 44% cheaper one year ago..." (see Forbes article below) 

 

Porterfield Way

Buying A Home Is Now 38% Cheaper Than Renting

Forbes 3/05/2014

Is renting or buying a better financial bet? Every six months, Trulia’s chief economist Jed Kolko runs the numbers to answer that question and help you stay on top of the trends.  So what does Trulia’s Winter 2014 Rent vs. Buy Report tell us? Although the gap between renting and buying is narrowing across the U.S., homeownership is still 38% cheaper than renting.

Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas according to Trulia TRLA -2.34%’s latest Winter Rent vs. Buy report. Rising mortgage rates and home prices have narrowed the gap over the past year, though rates have recently dropped and price gains are slowing. Now, at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally, versus being 44% cheaper one year ago.  Read More> 

 

 

porterfield

Do you know why buying a home is cheaper than renting? Anywhere in the U.S., buying is cheaper

Trey GarrisonFebruary 26, 2014

Buying costs less than renting in all 100 large U.S. metros, according to the Rent vs. Buy Report from Trulia (TRLA).

Rising mortgage rates and home prices have narrowed the gap between renting and buying, though rates have recently dropped and price gains are slowing.

Low mortgage rates have kept homeownership from becoming more expensive than renting. In some markets, like San Francisco and Seattle, rents have risen sharply; rising rents hurt affordability relative to incomes, but rising rents make buying look cheaper in comparison.  

Trulia says that at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally, versus being 44% cheaper at the start of 2013.  Read More>

 

 

  

The Congressional TeamTo search an entire database of homes for sale in real-time with photos, descriptions, and community information, please visit my website: www.premiermarylandhomes.com

 

Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert 

Assoc. Broker/Owner "The Congressional Team" RE/MAX

Licensed in MD & Wash DC

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Comment balloon 1 commentRick Reed • March 10 2014 10:08AM

Comments

Fortuitous headline for the real estate industry. The article doesn't get into the assumptions and math however. I think a lot of today's homebuyers are gun shy because they witnessed the mess that happened and do not want to get caught up in a repeat of that. 

Posted by Randy Mitchelson, APR, First Impressions are made at First Click (iPartnerMedia.com #goipm & Homeland Heroes Home Loans) over 4 years ago

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