Buying a home is 37.7% cheaper than Renting – call #reginasingh

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Buying a home is 37.7% cheaper than renting on a national basis, which is up just a bit from last year. Though the Fed is likely to raise rates by year’s end, homebuyers should be more concerned about rising prices. While the Federal Reserve Bank will likely increase interest rates later this year, rates would have to turn sharply higher to push the rent vs. buy decision towards renting. In fact, nationally and in the 100 largest markets, rising home prices are more likely to have an impact on homebuyers’ bottom line than increasing rates. In this edition of Trulia’s Rent vs. Buy report, we look at where, and by how much, rates and prices would have to increase to erase the financial benefits of homeownership. More info.

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