homeownership: Buying a Home Remains 38% Less Expensive than Renting!
- 11/07/14 12:18 AM
In Trulia’s latest Rent vs. Buy Report, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States. The updated numbers actually show that the range is from an average of 17% in Honolulu, all the way to 63% in Detroit, and 38% Nationwide! This is up from an average of only 5% cheaper in Honolulu in April. The other interesting findings in the report include: Rents have continued to increase nationally even as home price increases are starting to slow. Current low mortgage rates have kept homeownership … (1 comments)
homeownership: Zillow: Buying a Home Beats Renting After 2 Years
- 05/04/14 11:12 PM
Zillow's break-even horizon analysis came to an interesting conclusion: in half of U.S. metros, buying a home is a better financial decision than renting for buyers intending to stay in their home at least two years. The company’s analysis includes all costs associated with buying versus renting, including upfront payments, closing costs, anticipated monthly rent and mortgage payments, taxes, utilities, maintenance, and renovation costs. The group also takes into account different asset streams associated with different housing situations. For example, a buyer's home equity is factored into the final figure, while a renter's ability to invest some of the money they would have … (1 comments)
homeownership: 10 Reasons Why Homeowners Have an Edge on Renters
- 04/23/14 10:04 PM
Homebuying has earned a bad rap in recent years: The subprime mortgage crisis and ensuing economic meltdown left many homeowners underwater, unable to pay their mortgage and even facing foreclosure. Homeownership rates fell throughout the recession and got down to about 65 percent, compared with almost 70 percent before the recession, according to the Census Bureau. While record low interest rates helped entice homebuyers, the bureau reports that the homeownership rate remains relatively low, at 65.2 percent in the fourth quarter of 2013. If you're among those struggling to decide whether to buy versus rent, consider these 10 reasons to take the … (0 comments)
Brookfield Real Estate and Relocation Affiliates Inc., owner of the Prudential Real Estate franchise network, recently released the quarterly Prudential Real Estate Outlook Survey showing that Americans’ confidence in homeownership and real estate continues climbing from the first quarter and a year earlier.
Signs of growing confidence are widespread, according to the national survey. For instance:
• 69 percent believe that real estate is a good investment despite the market volatility of the past few years, up 6 percentage points from the first-quarter 2012 survey and 17 percentage points from first quarter 2011.
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