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
Author:Ann Marie Cancro Phone: 717-468-1301 Dated: September 17th 2014 Views: 702 About Ann Marie: LICENSED: Licensed Real Estate Professional since October 1990.
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