rent vs own: The Cost of Renting vs. Buying a Home [INFOGRAPHIC] - 11/15/19 07:24 AM

 Some Highlights: Historically, the choice between renting and buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear. Every market is different. Before you renew your lease, find out if you can put your housing costs to work by buying a home this year. We hope you found this post informative. 
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Oh, by the way … if you know of someone who would … (0 comments)

rent vs own: Homeownership Rate Remains on the Rise - 11/12/19 07:53 AM

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In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market.
The U.S. Census Bureau announced,
“The homeownership rate of 64.8 percent was not statistically different from the rate in the third quarter 2018 (64.4 percent), but was 0.7 percentage points higher than the rate in the second quarter 2019 (64.1 percent).”
 
Today there is still a lack of inventory, particularly at the entry and middle-level segments of the market, but that is not stopping buyers from making every effort to pursue homeownership. The many financial and non-financial benefits continue to drive the American Dream and will likely do so for … (0 comments)

rent vs own: Millennials: Here’s Why the Process is Well Worth It. - 11/06/19 09:53 AM

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Millennials have waited longer than any other generation to become homeowners, but the wait for this cohort is just about over.
According to National Mortgage News,
 “Millennials, those young adults now aged 23 to 38, are now entering their peak household formation and homebuying years.”
If you’re a Millennial, you’re already well aware that you’re among a generation of those who favor fast-paced, real-time answers – and results. When you’re ready to make a decision, it’s go-time, and you probably want the latest technology at your fingertips to make it happen.
National Mortgage News agrees, stating,
“Millennials are different than previous generations—not only in their delayed homebuying but also … (0 comments)

rent vs own: Can You Afford to Buy a Home? - 10/30/19 08:25 AM

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The gap between the increase in personal income and residential real estate prices has been used to defend the concept that we are experiencing an affordability crisis in housing today.
It is true that home prices and wages are two key elements in any affordability equation. There is, however, an extremely important third component to that equation: mortgage interest rates.
Mortgage interest rates have fallen by more than a full percentage point from this time last year. Today’s rate is 3.75%; it was 4.86% at this time last year. This has dramatically increased a purchaser’s ability to afford a home.
Here are three reports validating … (0 comments)

rent vs own: Think Prices Have Skyrocketed? Look at Rents. - 10/24/19 07:33 AM

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Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject.
In the most recent Apartment Rent Report, RentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply.
 “Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.”
Zillow, in its latest Rent Index, agreed that rents are continuing on an “upward trend” across most of the country, … (0 comments)

 
Kurt Davidson, Gratefully Serving Greater Portland-Vancouver (Davidson Home Group | Keller Williams Portland Central) Rainmaker large

Kurt Davidson

Gratefully Serving Greater Portland-Vancouver

Portland, OR

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Davidson Home Group | Keller Williams Portland Central

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