The housing market has been slowly recovering from the last housing bubble burst, but this progress has not gone on without some bumps along the way. The latest edition of The State Of The Nation's Housing, by the Harvard Joint Center For Housing Studies, released this
Blue Home Loans explains that with a number of challenges facing new home buyers, including rising home prices, increasing interest rates ahead, and tighter loan requirements, it can seem like a better idea simply to rent a home than to buy one. While this could save money in the short run, in the long run, it is still cheaper to actually buy a family home. The fact that the rental market is also growing more costly is another reason potential home owners should not abandon their home buying plans without carefully considering the options. The above mentioned report says, "The share of cost-burdened renters (those paying housing costs in excess of 30 percent of their income) rose every year but one between 2001 and 2011 and now is over 50 percent. More than a quarter of households are severely cost burdened with half or more of their income spent on shelter. On the homeowner side the situation has improved as owners have refinanced at lower rates and many have existed homeownership because of foreclosures."
The article says, "Looking ahead, the Center says the future course of homeownership will depend largely on the cost and availability of mortgage financing.
Blue Home Loans can help
For more information on how Blue Home Loans can help
Read the full story at http://www.prweb.com/releases/blue-home-loans/housing-market-recovery/prweb11983929.htm
Most Popular Stories
- Americans Still Pessimistic Despite Economic Growth
- New Hershey's Logo Revealed
- Obama's Delay on Immigration Creates Uncertainty
- Obama on Labor Day: Don't Take Rights for Granted
- Buyer's Remorse on Common Core for Policymakers?
- Mexico's Pemex Forecasts 6.7% Drop in 2014 Crude Production
- California Passes First US Statewide Bag Ban
- American Airlines Back on Obitz
- Echeveste Steps Down, Perez Steps Up at VPE
- Startups Offer Smartphone Banking Apps