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House Price to Yearly Rent Ratio Points Way to Buying Homes.
House Price to Yearly Rent Ratio Points Way to Buying Homes.
October 15th, 2011 Wall Street Journal’s article “It’s Time to Buy That House” points out two key measures that are now suggesting it’s a good time to buy a house. For long term live in or for an investment the two measurements are the house price to yearly rents ratio and the current low mortgage rates.
According to Moody's Analytics, nationwide the ratio of home prices to yearly rents is 11.3, down from 18.5 at the peak of the bubble with the average from 1989 to 2003 was about 10. Even if price/rent ratios are not at their absolute low, with the 30 year mortgage rates in the low 4% that lower the total cost of the home thus making some markets looking like bargains.
To read the WSJ article click here.
To find current mortgage rates in Connecticut click here and go to mortgage page.
 
 
 
 
David Popoff is a license Realtor in Connecticut with William Raveis office in Darien.   A life time resident of Fairfield County he has worked throughout lower Fairfield County for over 30 years and now resides in Darien, Ct since 2004. 
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