SEARCH
For Rent
Houses For Rent
in Tampa Bay
For Rent
Tampa Bay

Own for Less Than Rent

Overview

Respond to this Ad
Ad number:#625647052
Contact:Kim Zapresko
City:Lithia, FL
Zip:33547
Price:$1300
Square ft:N/A
Beds:N/A
Baths:N/A

Description

Renters Paying Substantially More While Owning Costs Less

*Get your FREE Home Buyer's Guide*

Read Below and see why buying a home can cost LESS THAN RENT!



In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased.
“CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.”

Why the difference between the costs of renting versus owning?
It makes sense that rents have risen. However, how did mortgage payments decrease? CoreLogic explained:
“It’s mainly because mortgage rates back in December 2005 were significantly higher, averaging 6.3% for a fixed-rate 30-year loan, compared with 4.6% in December 2018.
The national median sale price in December 2005 – $190,000 – was lower than the $220,305 median in December 2018, but because of higher mortgage rates in 2005 the typical monthly mortgage payment was slightly higher back then – $941 – compared with $904 in December 2018.”
Additionally, a recent report by the National Association of Realtors (NAR) showed that purchasing a home requires less of your monthly paycheck.
According to the Economists’ Outlook Blog, NAR’s February 2019 Housing Affordability Index showed that the “percentage of income needed” to pay the typical mortgage has decreased the last three months.
November - 17.3%
December - 16.9%
January - 16.2%
February – 15.9%
Bottom Line
What does this all mean to the current housing market? We think First American said it best in a post last week:
“The mortgage rate-driven affordability surge has arrived just in time… Rising affordability has already benefited home buyers and, if the lower rate environment persists, we’re in for a great spring home-buying season.”


*Get your FREE NO OBLIGATION INFORMATION GUIDE* Call 1-844-714-5226 ID#6201

Respond to this Ad

Report this ad


Type of problem:







Your email (optional)


URL (optional)


Comment (optional)
Sending...
Sending...
© 2020 ClassifiedAds.com, Inc. All rights reserved.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _