February 25th, 2016 | Rent vs. Own?
Rental affordability nationwide is getting worse and it does not look it will be improving anytime soon.
Rents have been steadily rising since 2000 and unlike home prices, which took a hit when the bubble burst, there's
been no disruption to slow rent prices. Memphis has been and is affected by this trend.
Income hasn't kept up with rental increases. A renter is having to spend much more of their monthly income on rent.
But even as rents climb there is still strong demand for rentals, creating a housing crunch in some cities.
Low mortgage rates make buying your own home an attractive option for a person that has no plans to relocate the next
Remember the goal is to have no rent or no mortgage payment when your retirement begins!
Compare renting vs owning a home, click Ready to Buy? above and Compare Renting vs Owning...and Much More!
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