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Buying is Cheaper than Renting
For a very long time, due to the market fall, the safe alternative has been to rent. But, that was at the bottom of the market.
Now that there are very apparent signs of a rapidly positive turning market, decreasing inventory, rising home prices and lower mortgage rates, monthly rent prices are starting to rise at an alarming rate.
In Florida we’re seeing that buying a home is about 60% cheaper than renting. This is saving you well over $750 a month. You also may not realize how much of your income is going towards rent. To put it lightly, it’s at least half of your income.
“Neighborhoods across the country are hiding the welcome mat from renters in a bid to protect property values, a trend that has put a strain on renters and homeowners alike.”
Read the full story on Florida Realtors
“As every rental project is increasing its rents and has been for a long time, ultimately it gets to the point where owning becomes cheaper than renting.”
Read the full story on Business Week
“In many American communities, buying a home is now less expensive than renting. And with the economics tilting in favor of homeownership, many first-time buyers are jumping into the market.”
Read the full story on National Public Radio