“Let’s Talk Real Estate! “RENTERS FACE AFFORDABILITY CRUNCH” May 15th , 2019
Lets Talk Real Estate!
“RENTERS FACE AFFORDABILITY CRUNCH”
According to a recent nationwide assessment of the rental market, rising rents are continuing to claim an increased share of tenants’ income. While the median U.S. rental took 25.8 percent of renter’s income between 1985 and 2000, the median U.S. rental today currently requires 29.1% of a renter’s median monthly income. As a result, typical U.S. renters are paying $1,957 more per year than they would during more typical housing years. At the same time , homeowners are spending $3,300 less a year on mortgage payments than they would if mortgage payments required the same share of income as they have historically done. This glaring contrast may prompt a consultation with a real estate agent about the possibility of homeownership. There are advantages to owning your own home as well as to renting a place to live. It all depends on your circumstances: whether you are a homeowner considering if renting now might make more sense, or you’re a renter getting ready to buy a new home. We can help you with this monumental decision by evaluating the pros and cons of each. Start your future today by giving us a call. “OUR SUCCESS HAS BEEN BUILT ONE SATISIFIED CUSTOMER AT A TIME.”