Deutsche Bank released a very interesting study this week showing that renting a home costs US households more than paying a mortgage for the first time in at least two decades. The rent-buy ratio, or rent as a percentage of after-tax mortgage payments, is based on figures that Deutsche Bank compiled from NAR and the REIS information service. Rent amounted to 100.2% of home-loan costs in last year’s fourth quarter, the highest level since calculations began in 1991.
So dissecting this: renting is now more costly than buying, rates have come back down this week ….it is a great day to buy OR SELL a house!
- Owning vs. Renting (mobilebaldwinhomes.wordpress.com)