With housing being the most affordable it has been since the mid-1970’s, why are Americans choosing to rent instead of buy?
Many good things are to come by investing property, one of the best ones being the extremely high returns that can be received.
With mortgage rates at an all-time low, many areas with generally inexpensive rental properties are still proving to be more costly to live in, relative to the alternative of buying into the housing market.
The National Association of Realtors is even expecting rent costs to increase up to 5% over the upcoming years, giving any person a difficult purpose to justify renting over buying.
Caitlin McCabe suggests that part of the hardship is a “housing hangover” that was caused by the market crash of ’08. Many American homeowners are still experiencing a considerable loss while they have more to pay on their mortgages then what their home is even worth.
McCabe also did a study in which she found that less than one-third of those that lost their homes due to foreclosure plan to return to …