Is Renting Costing You More Then Owning Your Home

Is Renting Costing You More Then Owning Your Home

Construction of multifamily homes is expected to increase this year, but there’s still a shortage of rental homes for the millions who need them. Rental vacancy rates are at or near their lowest level in 30 years, according to the CoreLogic report. Accordingly, rents in 2016 will continue to rise faster than inflation.

With rents climbing, it’s no wonder so many millennials struggle to afford a down payment. For starters, 41% of them are carrying  student loans that frequently run into the tens of thousands, according to NAR. Plus, wages are growing slowly or not at all as rents and other living costs get steeper. It’s a combination of challenges that makes it hard to save for a down payment on a home. Fortunately there are still programs in place that will cover some if not all of the down payment and allow you to own a home with little to no money due at closing. Contact us today to be put in touch with one of our preferred lenders!!!


Katie Mcclelland w/Team Emanuele at Simply Vegas

(702)863-7600

katie.homesforsale-lasvegas.com

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Phone: 702-506-4090
Dated: June 2nd 2016
Views: 363
About Richard: Richard Emanuele is a top Producing Real Estate agent who holds distinguished designations such as: ...

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