Nearly three years of steadily rising mortgage rates have shifted the rent versus buy calculation to the largest degree in 15 years. Looking at Zelman & Associates - A Walker & Dunlop Company research, we see that even though apartment rents have risen 88% since 2010, renting is now more affordable than buying because of the increased burden of borrowing and a similar increase in the average priced entry-level home. The lock-in effect is real - roughly 80% of homeowners with a mortgage have a rate below 5% which has limited existing home inventory and boosted prices. Reach out to Mark Franceski or our team to learn more: https://lnkd.in/e_Adu6Z #RenterNation #Affordable #WeAreWD
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Real Estate Agent | Free Home Worth Evaluation | Exclusive Properties | Silicon Valley
People Are Still Moving, Even with Today’s Affordability Challenges ..."If you’re thinking about buying or selling a home, you might have heard that it’s tough right now because mortgage rates are higher than they’ve been over the past few years, and home prices are rising. That much is true."... https://buff.ly/49GPl5c #ForBuyers #ForSellers #HousingMarketUpdates #BuyingMyths #SellingMyths #Housing #housingmarket #affordability #buying #selling #homebuying #homeselling
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🏡💼 Considering selling your home in 2024? Now is the time to make your move! Here's why: 📉 Mortgage rates are improving, and experts predict further drops in 2024 bringing more buyers to the market. However, home affordability challenges persist due to pent-up demand and low inventory, keeping prices high. 🔒 Many homeowners are holding onto their current low interest rate loans, causing demand to outpace supply. Last month, current number of homes for sale in Charleston County was 1,584 and this month, that dropped to 1,089! ⏰ With no significant increase in existing home supply expected until rates drop to the low 5% range, NOW remains the best time to sell! 💰 Beat the Spring inventory rush and ensure the most lucrative sale by LISTING NOW. With 20+ years of experience, I'm here to guide you through the process and make it as simple as possible. Message me with your address and email for a personalized market analysis and property report today! 📊✨ #chs #charlestonsc #charlestonrealestate #charlestonrealtor #sullivansisland #sullivansislandrealtor #sullivansislandrealestate #isleofpalms #isleofpalmsrealestate #isleofpalmsrealtor #mountpleasant #mountpleasantrealestate #mountpleasantrealtor #charlestonliving
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"Homeownership is full of benefits. On the financial side, these include: >> a form of forced savings for your household >> a way to take advantage of home price appreciation >> consistent mortgage payments instead of rising rent payments DM me if you’re ready to receive these benefits by becoming a homeowner." #homeownership #financialbenefits #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #starterhome #dreamhome #curbappeal
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"Homeownership is full of benefits. On the financial side, these include: >> a form of forced savings for your household >> a way to take advantage of home price appreciation >> consistent mortgage payments instead of rising rent payments DM me if you’re ready to receive these benefits by becoming a homeowner." #homeownership #financialbenefits #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #starterhome #dreamhome #curbappeal
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"Homeownership is full of benefits. On the financial side, these include: >> a form of forced savings for your household >> a way to take advantage of home price appreciation >> consistent mortgage payments instead of rising rent payments DM me if you’re ready to receive these benefits by becoming a homeowner." #homeownership #financialbenefits #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #starterhome #dreamhome #curbappeal
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"Homeownership is full of benefits. On the financial side, these include: >> a form of forced savings for your household >> a way to take advantage of home price appreciation >> consistent mortgage payments instead of rising rent payments DM me if you’re ready to receive these benefits by becoming a homeowner." #homeownership #financialbenefits #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #starterhome #dreamhome #curbappeal
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"Homeownership is full of benefits. On the financial side, these include: >> a form of forced savings for your household >> a way to take advantage of home price appreciation >> consistent mortgage payments instead of rising rent payments DM me if you’re ready to receive these benefits by becoming a homeowner." #homeownership #financialbenefits #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #starterhome #dreamhome #curbappeal
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"Homeownership is full of benefits. On the financial side, these include: >> a form of forced savings for your household >> a way to take advantage of home price appreciation >> consistent mortgage payments instead of rising rent payments DM me if you’re ready to receive these benefits by becoming a homeowner." #homeownership #financialbenefits #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #starterhome #dreamhome #curbappeal
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"Homeownership is full of benefits. On the financial side, these include: >> a form of forced savings for your household >> a way to take advantage of home price appreciation >> consistent mortgage payments instead of rising rent payments DM me if you’re ready to receive these benefits by becoming a homeowner." #homeownership #financialbenefits #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #starterhome #dreamhome #curbappeal
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Developers are building new houses for rent at an unprecedented rate, aiming to capitalize on the steep home prices and higher mortgage rates that are forcing many Americans to keep renting. In 2023, 93,000 new single-family homes for rent were completed (John Burns Research and Consulting), 39% more rental homes than in 2022, and the most in any year ever and this pace is expected to continue this year before easing by 2025. Expect to see more 'unbiased experts' (often landlords) encouraging renting over buying. (WSJ)
Administrative Analyst, Sales Support @ XPO
2moI disagree that renting is more affordable, I live in the Dallas Fort Worth area and those with homes have decided to stay in their homes because an apartment costs just as much as a mortgage. I’ve been looking for an apartment for a couple of months and just 400sq ft studio is $1300.00 for a room, one bedrooms can start 1250-1600 a month. Apartments were supposed to be for affordable housing and are not anymore. I’m having to stay with my daughter in hopes rents will come down in the fall.