by Chris Prendergast (R)
Renters shelled out $441 billion in 2014: As rents soar, mortgage interest rates remained historically low and investors are scoring huge.
While Americans may prefer the flexibility of renting, home ownership is becoming more enticing financially, and renting is just plain more expensive than owning in many markets.
“Next year, we expect rents to rise even faster than home values, meaning that another increase in total rent paid similar to that seen this year isn’t out of the question,” said Zillow Chief Economist Stan Humphries.
Imagine all those mortgage interest deductions left unclaimed!
Imagine all those pets given away because landlords don’t allow them!
Imagine all those dollars spent paying someone else’s mortgage!
Imagine all those security deposits lost because of landlord disputes!
2015 could be the tipping point, pushing more renters to home ownership.
Contact me for a free assessment to determine if renting or owning is the right choice for you.