With mortgage rates remaining high, renting is less expensive than buying
Publishing timestamp: 2024-02-21 15:03:36
Summary
The cost of housing is generally expensive in the US, with renting being a smarter financial choice in many markets. Factors such as income, debt, and length of stay should be considered when deciding whether to buy or rent. While owning a home can help build wealth and provide stability, the upfront costs and down payment can make it unaffordable for many. Rent prices have outpaced wages, making it difficult for renters to save for a down payment.
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Keywords: personal finance, housing, investment strategy, mortgages, breaking news: investing, personal loans, new york city, business news, united states, san francisco, san diego, real estate, economic events, lendingtree inc,