Homeowners are choosing, or being forced, to rent rather than buy even though the latter is cheaper in key markets Trulia reviewed. But as they turn to renting, the influx of demand squeezes the nation's rental supply, pushing monthly rents higher. He expects rents to rise at an annual rate of 3% this year and remain at that level in 2013. "Assuming that the economic recovery gains firmer footing,... [more]
Homeowners are choosing, or being forced, to rent rather than buy even though the latter is cheaper in key markets Trulia reviewed.
But as they turn to renting, the influx of demand squeezes the nation's rental supply, pushing monthly rents higher.
He expects rents to rise at an annual rate of 3% this year and remain at that level in 2013. "Assuming that the economic recovery gains firmer footing, in future years there is scope for rents to rise by around 4% a year," Dales said
Buying is more affordable than renting in 98 out of the nation's 100 largest metropolitan areas — even in New York, Los Angeles and Boston, according to real estate company Trulia's rent vs. buy index
http://www.housingwire.com/article/trulia?goback=%2Egde_4297177_member_102710316[less]
Response by hofo
over 13 years ago
Posts: 453
Member since: Sep 2008
Not manhattan though
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Response by jason10006
over 13 years ago
Posts: 5257
Member since: Jan 2009
Exactly. In the NY metro area, and even in 3/5 boroughs, but not in Manhattan. From the exact same data source as this story.
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Response by ab_11218
over 13 years ago
Posts: 2017
Member since: May 2009
in any good part of the 5 boroughs and in commuter towns in nj/westchester, renting is cheaper.
even in manhattan, if you go to 200+ street, it maybe different, but that's like living on mars.
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Response by dealboy
over 13 years ago
Posts: 528
Member since: Jan 2011
Renting is for short-term thinkers. People used to say Manhattan was overpriced in the 1950s, 60s, 70s, 80s, and 90s. Guess what? Anyone who paid off their mortgage over 30 years was looking at a jackpot of wealthy when they retired. Renters? Nothing. Just sniveling ants trying to keep their rent control.
If you take a long term perspective, buying is ALWAYS a no-brainer jackpot lottery system for your retirement. And, no, being down on your purchase from 2010 does not negate this.
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Response by uws96
over 13 years ago
Posts: 23
Member since: Mar 2012
Dealboy - how about being down on your 2007 purchase?
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Not manhattan though
Exactly. In the NY metro area, and even in 3/5 boroughs, but not in Manhattan. From the exact same data source as this story.
in any good part of the 5 boroughs and in commuter towns in nj/westchester, renting is cheaper.
even in manhattan, if you go to 200+ street, it maybe different, but that's like living on mars.
Renting is for short-term thinkers. People used to say Manhattan was overpriced in the 1950s, 60s, 70s, 80s, and 90s. Guess what? Anyone who paid off their mortgage over 30 years was looking at a jackpot of wealthy when they retired. Renters? Nothing. Just sniveling ants trying to keep their rent control.
If you take a long term perspective, buying is ALWAYS a no-brainer jackpot lottery system for your retirement. And, no, being down on your purchase from 2010 does not negate this.
Dealboy - how about being down on your 2007 purchase?