Shorewest Reports: America’s Rental Crisis — Invest in a Home Now

Facebooktwitterredditpinterestlinkedinmailby feather

Why Buy Now - Rent

Shaun Donovan, Secretary of Housing & Urban Development, recently stated, “We are in the midst of the worst rental affordability crisis that this country has known.” The numbers don’t lie — rent has climbed astronomically over the last decade. About half of renters spend more than 30% of their income on rent, up from 18% a decade ago, and 27% of renters are paying more than half of their income on rent.

 Why buy Now - Rent 2

The statistic illustrated above shows the startling difference in net worth between homeowenrs and renters. Homeowners’ average net worth is $174,500, while renters average only $5,100. This means the average homerowner’s net worth is over 30 times greater than a renter. If you know a renter who is considering buying, the time is now. With mortgage rates and prices increasing for 2014, homes are more affordable now than they will be in the future.

Tags: , , , , , , , ,

Categories: Home Buying

Leave a Reply

Your email address will not be published.






Rates and fees are subject to adjustments based on your credit score and the loan-to-value ratio. Rates and fees are also subject to change without notice. Other rates and loan programs are available.
All applications are subject to current underwriting guidelines and credit approval. EHL NMLS#280412

  • Heritage Title Services, Inc.
  • The Realty Alliance
  • Wisconsin Mortgage Corporation
  • Leading Real Estate Companies of the World
  • Luxury Portfolio International
  • Shorewest Financial Associates LLC
  • HSA Home Warranty - Because Service Matters