Owning Is More Cost Effective

Owning Is More Cost Effective

In Trulia’s 2014 rent vs buy report they explained that home ownership remains cheaper than renting throughout the 100 largest metro areas in the United States.   The other interesting findings in the report include:

Even though prices increased sharply in many markets over the past year, low mortgage rates have kept home ownership from becoming more expensive than renting.  Some markets might tip in favor of renting later this year as prices continue to rise faster than rents and if – as most economists expect – mortgage rates rise, due both to the strengthening economy and Fed tapering.  Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.  Buying a home makes sense. Rental costs have historically increased at higher rates than inflation. Lock in a mortgage rate and payment  before home prices and rates rise as experts expect they will


Ann Marie Cancro Headshot
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Phone: 717-468-1301
Dated: September 17th 2014
Views: 712
About Ann Marie: LICENSED: Licensed Real Estate Professional since October 1990. AFFFILIATIONS: Lancaster Assoc. o...

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