Housing
Sorry, Your Rent Is Rising in 2016
Where it’s more affordable for renters to buy, renters can’t afford to buy. The U.S. housing market paradox isn’t going away in the new year.
If your New Year’s Resolution was to find better financial balance in 2016, especially when it comes to how much of your paycheck goes into your rent, you may need to consider moving, buying a house, or both. Happy New Year!
That’s the takeaway from a new report from RealtyTrac that predicts that buying will continue to be cheaper than renting in more than half of U.S. housing markets in 2016. New year, same deal: Census data released in December show that rental costs are rising nationwide while new housing starts are miserly, even though the costs of home ownership are still low in many places.