According to recent statistics, the supply and demand of renting is hitting the roof as rental costs soar. So many homeowners in the past 5 years whom lost their homes to foreclosure and short sales have created a rental housing shortage therefore rents have soared! See this article posted today in by the National Association of REALTORS: http://rem.ax/1bUB6tL.
Even around the office here at RE/Max Dynamic in Wasilla the property managers report that increasing rents have now begun to pay the mortgages of those whom choose to rent vs. sell in the downturn and try to save their credit ratings. Now with low interest rates, and your good credit, if you are renting it may just be time to consider buying. Rental shortages and rental rates are only expected to get worse. Don’t wait for interest rates to rise as expected in 2014 as it will dampen your purchasing power.
Looking to buy now? Consider this starter home, private setting and great equity builder as you update this very affordable home:
http://rem.ax/1bUCPzi
