News flash: "Rent vs. Buy" favors "rent" this time

By
Property Manager with AmeriTeam Property Management SL#3200658
https://activerain.com/droplet/GG9
News flash:  "Rent vs. Buy" favors "rent" this time



Rent vs Buy favors rent for now



It's been a long time since "rent versus buy" argument favored the "rent" side of life- but that's the news from here in Orlando these days.  And I hope it's a sign of a rising tide that's going to lift a lot of ships.



Why the shift?  It boils down to a simple payment gap between the costs of renting and those of buying, same as it always has.  With our sales inventory here running at about 2/3 of the 6 months worth of inventory that's widely considered standard, ol' Econ 101 has struck again.



Median Orlando sales price this past month?  $125,750- up from $108,000 at year's start.



Average Orlando mortgage payment, according to FBC Mortgage?  $1,200.  Average Orlando rent?  $1,050.  That spells win, win, win.



Investors win, as word that "renting makes sense again" leads more to become tenants rather than buyers...for now.



Those with homes on the market win, as low inventory n the sales side maintains the current sellers' market as prices are rising...



Lastly, the buying/renting public wins, as this "rent versus buy" or "mortgage vs rent payment" gap remains reasonable right now and one can't be faulted for making either choice.



News flash:  "Rent vs. Buy" favors "rent" this time



Posted by
 
DENNIS B. BURGESS
Property Manager

Licensed Florida Realtor
 
AmeriTeam Property Management
845 N. Garland Ave., #200
Orlando, FL  32801
 
 
 
205-445-4755 cell/direct
407-901-3636 x103 office
407-901-5147 office fax
 
Turning vacant into occupied, and "houses" into "homes"SM
 
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Rainmaker
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Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Dennis * I chuckle each time I see one of these cheaper-to-buy-than-rent posts, they still BEG the question of mobility and keeping a family together when people need to move for education or employment.

Aug 21, 2012 08:24 PM #1
Rainmaker
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Dennis Burgess
AmeriTeam Property Management - Mid Florida, FL
Orlando Property Manager and Realtor

Hi, Wallace:  Thank you for dropping by, and for your comment.  You oughtta like this post, then- since it's a renting is best one!

Aug 21, 2012 09:54 PM #3
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Rainmaker
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Dennis Burgess

Orlando Property Manager and Realtor
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