Better to buy than rent in US
Better to buy than rent in US According to a recent study it is now cheaper to buy than rent in almost two-thirds of the USA real estate markets. The most affordable locations include Detroit and Miami. The study also highlighted the strength of sales of USA real estate – levels of residential sales are the highest since the end of 2009. As home sales continue to climb stock levels are in decline and increased demand is pushing house prices in an upward direction – on a national level residential real estate prices have increased by more than 11 per cent during the last twelve months.
Although real estate prices are on the rise American mortgage rates remain at historic low levels and it is this that is tempting more renters to buy their own home as a more cost effective way of living both on a day-to-day basis and as a sound investment for the future. Interest rates are expected to remain low for some time yet so more would-be renters may be tempted to take the first step on the property ladder sooner than they thought possible.