- ORIGINAL NEWS
With mortgage rates remaining high, renting is less expensive than buying
- SUMMARY
The cost of housing in America is high for both renters and homeowners.
In most areas, it’s generally cheaper to rent than to own.
Homeownership has become challenging due to high down payments and fast-rising home prices.
While renting may be more affordable upfront, it can be hard to save for a down payment with rising rent costs.
Renters are often cost-burdened, spending over 30% of their income on rent.
The good news is that rent prices are starting to stabilize as more apartment units are built.
- NEWS SENTIMENT CHECK
- Overall sentiment:
mixed
Positive
“It’s generally cheaper to rent than own in the country’s 50 largest metropolitan areas, according to a recent study by LendingTree.”
“Owning a home can help you build wealth, and after you finish paying the mortgage, owning a place will probably be cheaper than a rental”
Negative
“The cost of housing is generally expensive across the board for Americans, whether you’re a renter or an aspiring homeowner.”
“While both home prices and rent have outpaced wage growth in most areas, renting can be the smarter financial choice in many markets”