This year’s selling season comes with an added dose of optimism due, in part, to the increasing cost of renting a home or apartment. A survey by research firm Reis, found the average apartment’s rent rose 2.7 percent last year and, in some markets, was up more than five percent. And, though historically renting has been 10 percent cheaper than buying a home, an analysis from Deutsche Bank found that the gap began closing in 2010 and, by the end of last year, renting was nearly 15 percent more expensive than buying. This, along with high affordability and low mortgage rates, has industry analysts optimistic that 2012 could be the first year since 2005 that the number of renters entering the housing market increases from the previous year. It is also one of the chief reasons for an increase in optimism as the housing market enters the spring-selling season. More here.

 

2 Comments on Rising Rents Make Buying A Better Deal

APR
09
2012
395,117 Points Outside Blog

I hope there isn't a novice investor bubble planning on bursting around the corner. So called investors are jumping in looking fro a quick score. 
9:35pm • #2
APR
10
2012
1,024,230 Points 66 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Don't worry Winston - 2 of my current clients whose original residences I manage are now BACK in the area rental market to buy their SECOND investor units.

Agents urging renters to become homeowners are missing the SEASONED investor market...they are ready, willing and able to BUY!
3:40am • #3


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Jan Delimont, Principal Broker

Coos Bay, OR

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Prudential Seaboard Properties

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