October 1st, 2015 11:42 AM by Chris Hernandez
It's going to cost more to Rent than to Buy your own home! Call me and let's get you pre-approved for your own mortgage. If you have some credit issues, as a lot of us do, call me and lets come up with a game plan to get you into a mortgage, sooner rather than later.
We often promote homeownership over renting when a family is ready, willing and able to purchase. There are both financial and non-financial benefits to owning a home of your own. Based on the headlines below, many news outlets agreed with us after they reviewed a recent report from the Harvard Joint Center for Housing Studies andEnterprise Community Partners.
The study states that the number of households spending 50% or more of their income on rent is expected to rise by over ten percent in the next decade. They concluded:
“Overall, this white paper projects a fairly bleak picture of severe renter burdens across the US for the coming decade.”
What do other experts think of the report? You can tell by the headlines they chose to introduce their stories:
If you are thinking about buying a home and are financially positioned to do so, now may be better than later.
You can download the entire white paper here: Projecting Trends in Severely Cost-Burdened Renters