US home ownership is at very low point right now, 60% last i checked.
Last I checked it was more expensive to own a home than rent, short and long-term, in all 50 states. Until the housing market rises, which is hasn't in over 15 years, it'll never be cheaper to own
In more than half (59%) of housing markets nationwide — 442 of 755 U.S. counties — renting a three-bedroom property is now more affordable than buying a median-priced home, according to a new report from real-estate data firm Attom Data Solutions. Among the 40 counties across the country with more than 1 million residents, only three had housing markets where it was still cheaper to buy a home than rent one: Wayne County (Detroit), Mich.; Philadelphia County, Pa.; and Cuyahoga County, Ohio.
One study by Trulia Trends estimated that the national average of 30 year fixed interest rates would have to increase to 10.5% before it would stop making sense to buy a home. [big grain salt]
A landlord with a variable rate mortgage might have his payments rise, he/she would have to be careful not to raise rents so much that people move out to another less-expensive place.
My mom sold her house in 2004 for $380k, the people that bought it replaced the roof removed the carpet and put in hard wood floors, and put a big privacy fence up. They sold it in 2016 for $389k.
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Mylon ago
By "shopping spree", they mean buying up more US properties and companies to further emasculate the US.
Pwning4Ever ago
True, our homes are literally going to be owned by Chinese. Lmao Trump you fucking moron.
US home ownership is at very low point right now, 60% last i checked.
eronburr ago
Last I checked it was more expensive to own a home than rent, short and long-term, in all 50 states. Until the housing market rises, which is hasn't in over 15 years, it'll never be cheaper to own
Honey_Pot ago
In more than half (59%) of housing markets nationwide — 442 of 755 U.S. counties — renting a three-bedroom property is now more affordable than buying a median-priced home, according to a new report from real-estate data firm Attom Data Solutions. Among the 40 counties across the country with more than 1 million residents, only three had housing markets where it was still cheaper to buy a home than rent one: Wayne County (Detroit), Mich.; Philadelphia County, Pa.; and Cuyahoga County, Ohio.
One study by Trulia Trends estimated that the national average of 30 year fixed interest rates would have to increase to 10.5% before it would stop making sense to buy a home. [big grain salt]
A landlord with a variable rate mortgage might have his payments rise, he/she would have to be careful not to raise rents so much that people move out to another less-expensive place.
https://www.marketwatch.com/story/why-it-makes-more-sense-to-rent-than-buy-2018-01-11
eronburr ago
My mom sold her house in 2004 for $380k, the people that bought it replaced the roof removed the carpet and put in hard wood floors, and put a big privacy fence up. They sold it in 2016 for $389k.
I found this last time it came up https://www.cnbc.com/2017/04/07/heres-how-much-more-it-costs-to-own-vs-rent-a-home-in-every-us-state.html
Posted here v/QRV/2894190/15412604