If You Are Still A Renter The Time To Transition To Homeownership Is Now

If You Are Still A Renter The Time To Transition To Homeownership Is Now

When people think “affordable housing,” they typically think of renting. However, that’s no longer the case. According to Realtor.com’s most recent Market Outlook Report (from September 2017), rents rose year-over-year in an astonishing 78% of counties across the US. In fact, renting has become so unaffordable, it’s officially become more expensive than homeownership. According to a recent study by Zillow, homeownership is more affordable than renting in the majority of metro markets across the US.

This unexpected shift in affordability is steering people away from renting and straight into their own homes. According to a recent article from Realtor.com, the homeownership rate in the US rose year-over-year for the fifth consecutive quarter in April 2018 to 64.2%. The country also lost 286,000 renter households, which is the fourth consecutive quarter of year-over-year declines.

The Takeaway

If you’re still a renter, the time to transition to home-ownership is now. Rents are continuing to rise, and if you continue to rent, you’re throwing away money that could be better spent on owning your own home—and building your wealth in the process.


Stephen Crawford Headshot
Author:
Phone: 228-332-2289
Dated: May 29th 2018
Views: 56
About Stephen: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Our Bloggers

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Crawford Realty Group
112 Court Street
Bay St. Louis, MS
228-533-8637
228-467-4121