At long last someone other than your Realtor or Mortgage loan officer is recommending that you should buy rather than rent. According to an author at CNN Money if you can’t afford to buy a home, you may also have a problem renting. A record number of renters are spending more than half their income on housing according to a report released by the Harvard Joint Center for Housing Studies. And more middle-class folks are feeling the pinch.
Rents are expected to climb more than 7% this year where as housing has become very affordable to purchase. Part of the problem is that there is a flood of new renters who have had their homes foreclosed or lost in natural disasters.
If you think you can’t buy, you might be surprised. It is my job to figure out the answer to that puzzle for you.
I can be reached at 615-777-4663 or via email at George.Margrave@migonline.com
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