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Try Not to Get Caught in Irvine's Rental Trap
There are many benefits to home ownership.
One of the top ones is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage. There are many families renting in Irvine, CA who may be wishing they could buy their first Irvine home. Check out these benefits of buying.
Don't Become Trapped

Joathan Smoke,Chief Economist at realtor. com, reported on what he called a "Rental Affordability Crisis." He warned that,
"Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they'll outpace home price appreciation in the year ahead."
 
In the Joint Center for Housing Studies at Harvard University's Report on Rental Housing, they reported that 49% of rental households are cost-burdened, meaning they spend more than 30% of their income on housing. These households struggle to save for a rainy day and pay other bills, such as food and healthcare.
It's Cheaper to Buy Than Rent
In Smoke's article, he went on to say,
"Housing is central to the health and well-being of our country and our local communities. In addition, this (rental affordability) crisis threatens the future value of owned housing, as the burdensome level of rents will trap more ... more

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