The Buy-Versus-Rent Advantage in the U.S. Extends Coast to Coast

by Team Member 11. March 2014 19:29

by Andrew O’Connell  |   8:30 AM March 11, 2014

Even though home prices and mortgage rates have been rising, rents have been rising too, so it’s still substantially cheaper to buy a home than to rent in major U.S. cities, assuming you’re planning to stay in the home a while. In comparison with renting, you’ll save 22% in New York City, 24% in Los Angeles, 34% in Washington D.C., 38% in Miami, 41% in Dallas, 45% in Houston, 46% in Philadelphia, 47% in Chicago, and 52% in Atlanta, if you remain in the home for seven years, according to figures quoted by CNN.

SOURCE: http://blogs.hbr.org/2014/03/the-buy-versus-rent-advantage-in-the-u-s-extends-coast-to-coast/

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General | Real Estate Future | Research

Do you know why buying a home is cheaper than renting?

by Team Member 4. March 2014 12:45

Anywhere in the U.S., buying is cheaper

Buying costs less than renting in all 100 large U.S. metros, according to the Rent vs. Buy Report from Trulia (TRLA).

Rising mortgage rates and home prices have narrowed the gap between renting and buying, though rates have recently dropped and price gains are slowing.

Low mortgage rates have kept homeownership from becoming more expensive than renting. In some markets, like San Francisco and Seattle, rents have risen sharply; rising rents hurt affordability relative to incomes, but rising rents make buying look cheaper in comparison.

Trulia says that at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally, versus being 44% cheaper at the start of 2013.

 

READ MORE: http://www.housingwire.com/articles/29115-do-you-know-why-buying-a-home-is-cheaper-than-renting

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General

Do you know why buying a home is cheaper than renting?

by Team Member 4. March 2014 12:45

Anywhere in the U.S., buying is cheaper

Buying costs less than renting in all 100 large U.S. metros, according to the Rent vs. Buy Report from Trulia (TRLA).

Rising mortgage rates and home prices have narrowed the gap between renting and buying, though rates have recently dropped and price gains are slowing.

Low mortgage rates have kept homeownership from becoming more expensive than renting. In some markets, like San Francisco and Seattle, rents have risen sharply; rising rents hurt affordability relative to incomes, but rising rents make buying look cheaper in comparison.

Trulia says that at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally, versus being 44% cheaper at the start of 2013.

 

READ MORE: http://www.housingwire.com/articles/29115-do-you-know-why-buying-a-home-is-cheaper-than-renting

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